http://prntscr.com/57j5ui
analysis for today 11 / 18 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 11 / 17 / 2014
OPEN 1186.68
HIGH 1194.00
LOW 1181.35
CLOSED 1186.29
The third resistance (R3) 1194.00 - ( 1187.21 - 1181.35 = 5.86 x 2 = 11.73 )= 1205.73
The second Resistance (R2) 1187.21 + 1194.00 - 1181.35 = 1199.86
First resistance (R1) 1187.21 x 2 = 2374.43 - 1181.35 = 1193.08
pivot points 1194.00 + 1181.35 + 1186.29 = 3561.64 / 3 = 1187.21
Support for the first (S1) 1187.21 x 2 = 2374.43 - 1194.00 = 1180.43
Support second (S2) 1187.21 - ( 1194.00 - 1181.35 = 12.65 ) = 1174.56
Third Support (S3) 1181.35 - ( 1194.00 - 1187.21 = 6.79 x 2 = 13.57 )= 1167.78