Commodities Pivot Points and Technical Analysis

17 March, 2015

Gold - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 1155.50$ with targets at 1163.50$ next 1173.70$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 1155.20$ with targets at 1145.25$ next 1137.30$ in extension.

Gold - Daily Chart Support and Resistance levels
Resistance: 1190.00, 1223.00, 1236.00, 1240.00, 1245.90
Support: 1140.00, 1132.00, 1120.00, 1100.00

Crude Oil - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 46.15$ with targets at 47.25$ next 48.35$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 46.15$ with targets at 45.05$ next 43.95$ in extension.

Crude Oil - Daily Chart Support and Resistance levels
Resistance: 48.90, 50.00, 54.00
Support: 45.00, 43.50, 42.80, 41.70, 40.80

Silver - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 15.60$ with targets at 15.75$ next 15.90$ in extension.
Alternatively, Bearish scenario: Short positions below the daily pivot point 15.60$ with targets at 15.50$ next 15.35$ in extension.

Silver - Daily Chart Support and Resistance levels
Resistance: 16.00, 16.85, 17.00, 17.75, 18.50, 19.00
Support: 15.25, 15.00, 14.70, 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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