Oil N' Gold - Resources for Serious Traders
Action Bias Summary
Commodity Hourly Daily Weekly Last Updated
Crude Oil- NEChart- NEChart- NEChartJan 24 19:06 GMT
Natural Gas- NEChart- NEChart↓ DNChartJan 24 19:06 GMT
Heating Oil- NEChart- NEChart- NEChartJan 24 19:03 GMT
Gasoline RBOB- NEChart- NEChart- NEChartJan 24 18:54 GMT
Gold↓ DNChart↑ UPChart- NEChartJan 24 19:06 GMT
Silver- NEChart↑ UPChart- NEChartJan 24 19:06 GMT
Copper↑ UPChart↑ UPChart↑ UPChartJan 24 19:06 GMT
Platinum- NEChart↑ UPChart↑ UPChartJan 24 19:06 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)