MCX Crude oil Pivot Level Live Chart
About Crude Oil
In financial markets, a pivot point is a price level that is used by traders as a possible indicator of market movement. A pivot point is calculated as an average of significant prices (high, low, close) from the performance of a market in the prior trading period. If the market in the following period trades above the pivot point it is usually evaluated as a bullish sentiment, whereas trading below the pivot point is seen as bearish.
Crude oil is the term used for oil that is taken straight out of the ground. It is a “fossil fuel,” which means that it formed from organic remains over a period of millions of years. It can be refined into various forms of energy such as gasoline, diesel fuel, and heating oil.