Commodities Pivot Points and Technical Analysis 03/03/2015

March 3, 2015

Gold - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1211.80$ with targets at 1219.40$ next 1230.60$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1211.80$ with targets at 1200.60$ next 1193.00$ in extension.

Gold - Daily Chart Support and Resistance levels

Resistance: 1223.00, 1236.00, 1240.00, 1245.90, 1252.00
Support: 1190.00, 1180.00, 1167.00

Crude Oil - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 49.55$ with targets at 51.25$ next 52.95$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 49.55$ with targets at 47.85$ next 46.10$ in extension.

Crude Oil - Daily Chart Support and Resistance levels

Resistance: 55.00, 60.00
Support: 47.80, 44.55, 45.00, 43.60, 43.20

Silver - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 16.50$ with targets at 16.65$ next 16.90$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 16.50$ with targets at 16.25$ next 16.05$ in extension.

Silver - Daily Chart Support and Resistance levels

Resistance: 16.80, 17.00, 17.75, 18.50, 19.00, 19.50
Support: 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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