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.
Tuesday, July 7, 2009
Gold charts
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.
