http://prntscr.com/3yvdqo
analysis for today 7 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 7 / 2 / 2014
OPEN 1326.25
HIGH 1331.83
LOW 1321.20
CLOSED 1326.56
The third resistance (R3) 1331.83 - ( 1326.53 - 1321.20 = 5.33 x 2 = 10.66 )= 1342.49
The second Resistance (R2) 1326.53 + 1331.83 - 1321.20 = 1337.16
First resistance (R1) 1326.53 x 2 = 2653.06 - 1321.20 = 1331.86
pivot points 1331.83 + 1321.20 + 1326.56 = 3979.59 / 3 = 1326.53
Support for the first (S1) 1326.53 x 2 = 2653.06 - 1331.83 = 1321.23
Support second (S2) 1326.53 - ( 1331.83 - 1321.20 = 10.63 ) = 1315.90
Third Support (S3) 1321.20 - ( 1331.83 - 1326.53 = 5.30 x 2 = 10.60 )= 1310.60


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