Silver pivot points and fibonacci levels

If you look at most stocks or commodity's, you'll see that they trade to pivot points within the day. (Google pivot points or look them up on your favorite stock charting website).  I noticed that today's Silver trading was between pivot points which is slightly unusual.  But when you place a fibonacci retracement on the chart at specific high and low points, you'll see that the price stopped at the 38.2 fibonacci level which provided some resistance.

Here is a daily chart of Silver with a Fibonacci drawn from the low point early in 2011 to the high point in late April of $49.82.

You can see the fibonacci levels on the left side at 23.6, 38.2, 50*, 61.8, 78.6 and the price levels on the right.

Here is a 5 minute day chart with pivot points, the yellow is the center, then you have 3 levels of resistance points in red and 3 levels of support lines in green. The price action of Silver is trading in between the center pivot point and the upper resistance pivot point R1.  (Price action will typically move up to a pivot point)  If you did not have a fibonacci drawn, you would not see the 38.2 level based on the high a low points.  This level provided resistance to the upside as seen on the chart.

Lesson:  If your swing trading, use pivot points with fibonacci retracement which may help you find hidden support and resistance levels.