http://prntscr.com/3nm3ul
analysis for today 5 / 29 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 5 / 28 / 2014
OPEN 1264.60
HIGH 1266.94
LOW 1255.77
CLOSED 1257.90
The third resistance (R3) 1266.94 - ( 1260.20 - 1255.77 = 4.43 x 2 = 8.87 )= 1275.81
The second Resistance (R2) 1260.20 + 1266.94 - 1255.77 = 1271.37
First resistance (R1) 1260.20 x 2 = 2520.41 - 1255.77 = 1264.64
pivot points 1266.94 + 1255.77 + 1257.90 = 3780.61 / 3 = 1260.20
Support for the first (S1) 1260.20 x 2 = 2520.41 - 1266.94 = 1253.47
Support second (S2) 1260.20 - ( 1266.94 - 1255.77 = 11.17 ) = 1249.03
Third Support (S3) 1255.77 - ( 1266.94 - 1260.20 = 6.74 x 2 = 13.47 )= 1242.30


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