Oil N' Gold - Resources for Serious Traders
Action Bias Summary
Commodity Hourly Daily Weekly Last Updated
Crude Oil- NEChart- NEChart↓ DNChartJun 27 01:39 GMT
Natural Gas↑ UPChart- NEChart↓ DNChartJun 27 01:18 GMT
Heating Oil- NEChart↓ DNChart↓ DNChartJun 26 20:57 GMT
Gasoline RBOB- NEChart- NEChart↓ DNChartJun 26 22:27 GMT
Gold- NEChart↓ DNChart- NEChartJun 27 01:39 GMT
Silver- NEChart- NEChart↓ DNChartJun 27 01:36 GMT
Copper↓ DNChart↑ UPChart- NEChartJun 27 01:36 GMT
Platinum- NEChart↓ DNChart↓ DNChartJun 27 01:33 GMT

Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars. Daily pivot points are useful for swing trading. Longer term pivot points provide an idea of where key support and resistance levels should be. Place the pivot points on your charts and see how traders appear to give pivot point levels a lot of respect.

  • Daily pivots are calculated from previous day's high, low, close
  • Weekly pivots are calculated from previous week's high, low, close
  • The pivot levels and charts are updated throughout the day to cater for data adjustments during the day.

Formula

  • Res3 = H + 2*(P-L)
  • Res2 = P + (Res1-Sup1)
  • Res1 = 2 * P - L
  • Pivot Point = ( H + C + L ) / 3
  • Sup1 = 2 * P - H
  • Sup2 = P - (Res1-Sup1)
  • Sup3 = L - 2*(H-P)