Commodities Pivot Points and Technical Analysis

March 17, 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.

Publication source
STOCK.com information  STOCK.com reviews

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