What is pivot level - Definition and Meaning

Pivot Level :

Pivot Level refers to the price level. Its a technical analysis indicator used by the traders to keep track of the market trends over a different time period. It is calculated as an average of the high, low and closing prices of the market from the previous trading period. Following over the period of trades, trading above the pivot point is taken as bullish sentiment and below the pivot level is considered as bearish sentiment.

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