August 20, 2013 - Pivot points, Support and Resistance levels for Gold, Silver, US Crude Oil and the currency market.(click to enlarge)
A technical analysis indicator used to try and determine the short-term trend of the market. The pivot point is the average of the high, low and closing prices from the previous trading day. If the market in the following day trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish.