http://prntscr.com/3mynq3
analysis for today 5 / 27 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 5 / 26 / 2014
OPEN 1292.28
HIGH 1301.28
LOW 1290.72
CLOSED 1300.62
The third resistance (R3) 1301.28 - ( 1297.54 - 1290.72 = 6.82 x 2 = 13.64 )= 1314.92
The second Resistance (R2) 1297.54 + 1301.28 - 1290.72 = 1308.10
First resistance (R1) 1297.54 x 2 = 2595.08 - 1290.72 = 1304.36
pivot points 1301.28 + 1290.72 + 1300.62 = 3892.62 / 3 = 1297.54
Support for the first (S1) 1297.54 x 2 = 2595.08 - 1301.28 = 1293.80
Support second (S2) 1297.54 - ( 1301.28 - 1290.72 = 10.56 ) = 1286.98
Third Support (S3) 1290.72 - ( 1301.28 - 1297.54 = 3.74 x 2 = 7.48 )= 1283.24


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