interesting chart which shows historical pivots,although there are times when we wish to guess the bottom or try to go against the trend,this chart shows that from 2009 to 2012 when gold was in an uptrend the price was predominantly above the yearly pivot and in its downtrend 2013 -2015 was mostly below it,(2012 was a sideways market so was above and below),hence it probably is a good idea to have a bias where the price is above or below the pivot for the year when that market is trending.The same pattern can be observed in the years before 2008 which was a sell off year in all markets.Ihave left off r2/s2 and r3/s3 so the chart is abit easier to look at.2015 Pivot is about 1240 so below there the bias is bearish#please remember this is not a predictor for where the price will go and is not an exact science but is a good guage of where support/resistance should lie and directonal bias within the trend,also spikes above and below these areas are possible.
Posted on: Tue, 30 Dec 2014 11:18:15 +0000
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