Pivot points
A set of computed levels derived from the high, the low and the close of the previous period.
How to read the number
This is arithmetic on yesterday's numbers rather than an observation of behaviour: the levels exist precisely because somebody computed them that way.
When the metric lies
Several formulas are in use and they yield different sets of levels for the same day. With that many candidates, a level coinciding with a turn is what one should expect.
Also known as: pivot point