http://prntscr.com/3u940k
analysis for today 6 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 6 / 18 / 2014
OPEN 1270.26
HIGH 1278.29
LOW 1266.14
CLOSED 1277.39
The third resistance (R3) 1278.29 - ( 1273.94 - 1266.14 = 7.80 x 2 = 15.60 )= 1293.89
The second Resistance (R2) 1273.94 + 1278.29 - 1266.14 = 1286.09
First resistance (R1) 1273.94 x 2 = 2547.88 - 1266.14 = 1281.74
pivot points 1278.29 + 1266.14 + 1277.39 = 3821.82 / 3 = 1273.94
Support for the first (S1) 1273.94 x 2 = 2547.88 - 1278.29 = 1269.59
Support second (S2) 1273.94 - ( 1278.29 - 1266.14 = 12.15 ) = 1261.79
Third Support (S3) 1266.14 - ( 1278.29 - 1273.94 = 4.35 x 2 = 8.70 )= 1257.44


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