Commodities Pivot Points and Technical Analysis 06/02/2015

February 6, 2015

Gold - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1267.60$ with targets at 1249.80$ next 1233.20$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1267.60$ with targets at 1284.20$ next 1302.00$ in extension.

Gold - Daily Chart Support and Resistance levels

Resistance: 1285.60, 1308.00, 1320.00, 1350.00
Support: 1240.00, 1220.00, 1204.00, 1200.00, 1180.00

Crude Oil - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 49.95$ with targets at 52.60$ next 54.70$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 49.95$ with targets at 47.85$ next 45.25$ in extension.

Crude Oil - Daily Chart Support and Resistance levels

Resistance: 55.00, 60.00
Support: 47.30, 45.00, 43.60, 43.20, 42.80

Silver - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 17.20$ with targets at 17.50$ next 17.80$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 17.20$ with targets at 16.90$ next 16.60$ in extension.

Silver - Daily Chart Support and Resistance levels

Resistance: 17.75, 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.

Publication source
STOCK.com information  STOCK.com reviews

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