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Pivot Points
Pivot points are technical levels calculated from previous period prices, used to identify potential support and resistance in trading.
In oil markets, pivot points help intraday traders anticipate turning points, set entry and exit levels, and manage risk.
They are derived from high, low, and close prices and can be adjusted for different timeframes. Traders often combine pivot points with indicators for confirmation.
Pivot points are widely used for short-term strategy planning and market timing.