Mecardo’s Percentiles update for March 2021.
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Percentiles are an important tool for assisting in the decision-making process. They can provide an indication of the range in which prices have moved and how much time they have spent at varying levels.
A percentile is a measure of how often, historically, prices have fallen above or below a particular price level. It gives a brief snapshot of whether a market has more upside or downside and how large this may be.
For example, if a price is at its 67th percentile, this means that 67% of historical prices have been below that value and 33% of prices higher. Similarly, a 90% percentile means that 90% of the time, prices have been lower and higher just 10% of the time.Mar