http://prntscr.com/4ufl04
analysis for today 10 / 9 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 10 / 8 / 2014
OPEN 1208.90
HIGH 1223.88
LOW 1204.81
CLOSED 1220.83
The third resistance (R3) 1223.88 - ( 1216.51 - 1204.81 = 11.70 x 2 = 23.39 )= 1247.27
The second Resistance (R2) 1216.51 + 1223.88 - 1204.81 = 1235.58
First resistance (R1) 1216.51 x 2 = 2433.01 - 1204.81 = 1228.20
pivot points 1223.88 + 1204.81 + 1220.83 = 3649.52 / 3 = 1216.51
Support for the first (S1) 1216.51 x 2 = 2433.01 - 1223.88 = 1209.13
Support second (S2) 1216.51 - ( 1223.88 - 1204.81 = 19.07 ) = 1197.44
Third Support (S3) 1204.81 - ( 1223.88 - 1216.51 = 7.37 x 2 = 14.75 )= 1190.06


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