Tuesday, July 7, 2009
Gold's high this year was at the year R1 pivot at $1011 and the low has been the yearly Pivot at $867, as seen with the blue arrows on the chart. Traders need to watch the yearly pivots for the years trading range ( usually s1 to r1). Pivots tells traders where to look for support on resistance.
Posted by Jeff York at 2:52 PM