Dec 31 2014, 07:45 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

Bullish scenario: Long positions above the daily pivot point 1197.30$ with targets at 1214.05$ next 1227.70$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1197.30$ with targets at 1183.65$ next 1166.85$ in extension.

Gold – Daily Chart Support and Resistance levels

Resistance: 1213.90, 1221.00, 1240.00, 1256.20, 1277.00
Support: 1170.70, 1160.00, 1140.00, 1130.00

Crude Oil – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 53.70$ with targets at 54.75$ next 55.35$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 53.70$ with targets at 53.10$ next 52.10$ in extension.

Crude Oil – Daily Chart Support and Resistance levels

Resistance: 55.00, 59.30, 63.90, 64.20, 68.25
Support: 52.70, 52.00, 51.60, 51.00, 50.00

Silver – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 16.15$ with targets at 16.60$ next 16.90$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 16.15$ with targets at 15.85$ next 15.45$ in extension.

Silver – Daily Chart Support and Resistance levels

Resistance: 16.50, 16.80, 17.40, 17.50, 17.80
Support: 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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