Pivot point

The pivot point and its related quantities are used by traders to assess resistance and support for future price moves. The quantities are defined as follows, where H, L, C are the day's high, low and close, respectively:

         Pivot point (P) = (H + L + C) / 3

         First resistance level (R1) = 2 x P - L

         First support level (S1) = 2 x P - H

         Second resistance level (R2) = P + (R1 - S1)

         Second support level (S2) = P - (R1 - S1)