Commodities Pivot Points and Technical Analysis 10/02/2015

February 10, 2015

Gold - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1246.00$ with targets at 1223.00$ next 1205.20$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1246.00$ with targets at 1263.80$ next 1286.80$ in extension.

Gold - Daily Chart Support and Resistance levels

Resistance: 1252.00, 1260.0, 1285.60, 1308.00, 1320.00
Support: 1220.00, 1204.00, 1200.00, 1180.00

Crude Oil - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 52.85$ with targets at 54.05$ next 55.20$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 52.85$ with targets at 51.70$ next 50.50$ 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 17.00$ with targets at 17.45$ next 17.85$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 17.00$ with targets at 16.60$ next 16.15$ 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
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