Jan 30 2015, 08:07 GMT  Shady Bahouth

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 1263.70$ with targets at 1241.95$ next 1229.30$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1263.70$ with targets at 1276.30$ next 1298.10$ in extension.

Gold – Daily Chart Support and Resistance levels

Resistance: 1280.00, 1308.00, 1320.00, 1350.00
Support: 1240.00, 1220.00, 1204.00, 1200.00, 1180.00

Crude Oil – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 44.35$ with targets at 43.75$ next 42.95$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 44.35$ with targets at 45.15$ next 45.75$ in extension.

Crude Oil – Daily Chart Support and Resistance levels

Resistance: 46.55, 49.10, 51.75, 52.50, 53.95
Support: 43.60, 43.20, 42.80

Silver – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 17.20$ with targets at 17.65$ next 18.50$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 17.20$ with targets at 16.35$ next 15.90$ in extension.

Silver – Daily Chart Support and Resistance levels

Resistance: 17.30, 18.50, 19.00, 19.50
Support: 16.50, 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.