analysis for today 10 / 2 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 10 / 1 / 2014
OPEN 1218.49
HIGH 1223.05
LOW 1214.69
CLOSED 1215.59
The third resistance (R3) 1223.05 - ( 1217.78 - 1214.69 = 3.09 x 2 = 6.17 )= 1229.22
The second Resistance (R2) 1217.78 + 1223.05 - 1214.69 = 1226.14
First resistance (R1) 1217.78 x 2 = 2435.55 - 1214.69 = 1220.86
pivot points 1223.05 + 1214.69 + 1215.59 = 3653.33 / 3 = 1217.78
Support for the first (S1) 1217.78 x 2 = 2435.55 - 1223.05 = 1212.50
Support second (S2) 1217.78 - ( 1223.05 - 1214.69 = 8.36 ) = 1209.42
Third Support (S3) 1214.69 - ( 1223.05 - 1217.78 = 5.27 x 2 = 10.55 )= 1204.14


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