Commodities Pivot Points and Technical Analysis 19/12/2014

December 19, 2014

Gold - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1199.10$ with targets at 1184.20$ next 1173.60$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1199.10$ with targets at 1209.60$ next 1224.50$ in extension.

Gold - Daily Chart Support and Resistance levels

Resistance: 1221.00, 1240.00, 1256.20, 1277.00 
Support: 1180.00, 1160.00, 1140.00

Crude Oil - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 55.90$ with targets at 52.75$ next 51.10$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 55.90$ with targets at 57.50$ next 60.65$ in extension.

Crude Oil - Daily Chart Support and Resistance levels

Resistance: 63.70, 64.20, 68.25, 70.00, 73.20, 75.95
Support: 53.70, 53.20, 52.80

Silver - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 15.95$ with targets at 15.70$ next 15.45$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 15.95$ with targets at 16.20$ next 16.45$ 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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