http://prntscr.com/3tx68y
analysis for today 6 / 18 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 6 / 17 / 2014
OPEN 1271.73
HIGH 1273.07
LOW 1259.59
CLOSED 1270.26
The third resistance (R3) 1273.07 - ( 1267.64 - 1259.59 = 8.05 x 2 = 16.10 )= 1289.17
The second Resistance (R2) 1267.64 + 1273.07 - 1259.59 = 1281.12
First resistance (R1) 1267.64 x 2 = 2535.28 - 1259.59 = 1275.69
pivot points 1273.07 + 1259.59 + 1270.26 = 3802.92 / 3 = 1267.64
Support for the first (S1) 1267.64 x 2 = 2535.28 - 1273.07 = 1262.21
Support second (S2) 1267.64 - ( 1273.07 - 1259.59 = 13.48 ) = 1254.16
Third Support (S3) 1259.59 - ( 1273.07 - 1267.64 = 5.43 x 2 = 10.86 )= 1248.73