http://prntscr.com/3safj1
analysis for today 6 / 13 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 6 / 12 / 2014
OPEN 1260.81
HIGH 1274.66
LOW 1259.76
CLOSED 1272.91
The third resistance (R3) 1274.66 - ( 1269.11 - 1259.76 = 9.35 x 2 = 18.70 )= 1293.36
The second Resistance (R2) 1269.11 + 1274.66 - 1259.76 = 1284.01
First resistance (R1) 1269.11 x 2 = 2538.22 - 1259.76 = 1278.46
pivot points 1274.66 + 1259.76 + 1272.91 = 3807.33 / 3 = 1269.11
Support for the first (S1) 1269.11 x 2 = 2538.22 - 1274.66 = 1263.56
Support second (S2) 1269.11 - ( 1274.66 - 1259.76 = 14.90 ) = 1254.21
Third Support (S3) 1259.76 - ( 1274.66 - 1269.11 = 5.55 x 2 = 11.10 )= 1248.66


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