http://prntscr.com/4hvu7p
analysis for today 9 / 1 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 8 / 29 / 2014
OPEN 1289.25
HIGH 1290.92
LOW 1283.28
CLOSED 1287.04
The third resistance (R3) 1290.92 - ( 1287.08 - 1283.28 = 3.80 x 2 = 7.60 )= 1298.52
The second Resistance (R2) 1287.08 + 1290.92 - 1283.28 = 1294.72
First resistance (R1) 1287.08 x 2 = 2574.16 - 1283.28 = 1290.88
pivot points 1290.92 + 1283.28 + 1287.04 = 3861.24 / 3 = 1287.08
Support for the first (S1) 1287.08 x 2 = 2574.16 - 1290.92 = 1283.24
Support second (S2) 1287.08 - ( 1290.92 - 1283.28 = 7.64 ) = 1279.44
Third Support (S3) 1283.28 - ( 1290.92 - 1287.08 = 3.84 x 2 = 7.68 )= 1275.60