Daily technical analysis for Gold, Crude Oil and Silver, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Gold – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1209.85$ with targets at 1202.85$ next 1197.25$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1209.85$ with targets at 1215.45$ next 1222.45$ in extension.

Gold – Daily Chart Support and Resistance levels

Resistance: 1223.00, 1240.00, 1256.20, 1277.00
Support: 1200.00, 1180.00, 1160.00, 1140.00, 1130.00

Crude Oil – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 48.70$ with targets at 49.70$ next 50.65$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 48.70$ with targets at 47.80$ next 46.80$ in extension.

Crude Oil – Daily Chart Support and Resistance levels

Resistance: 52.50, 53.95, 55.10, 59.30, 63.90
Support: 46.80, 46.50, 45.80, 45.00

Silver – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 16.40$ with targets at 16.70$ next 17.05$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 16.40$ with targets at 16.10$ next 15.80$ in extension.

Silver – Daily Chart Support and Resistance levels

Resistance: 16.80, 17.40, 17.50, 17.80
Support: 16.00, 15.50, 15.00, 14.15

Commodities Pivot Points:

Pivot points are very useful tools for commodities professional traders that use the previous bars’ highs, lows and closings to project potential support and resistance levels for future bars.

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