http://prntscr.com/452jvq
analysis for today 7 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 7 / 21 / 2014
OPEN 1310.63
HIGH 1318.14
LOW 1307.23
CLOSED 1312.15
The third resistance (R3) 1318.14 - ( 1312.51 - 1307.23 = 5.28 x 2 = 10.55 )= 1328.69
The second Resistance (R2) 1312.51 + 1318.14 - 1307.23 = 1323.42
First resistance (R1) 1312.51 x 2 = 2625.01 - 1307.23 = 1317.78
pivot points 1318.14 + 1307.23 + 1312.15 = 3937.52 / 3 = 1312.51
Support for the first (S1) 1312.51 x 2 = 2625.01 - 1318.14 = 1306.87
Support second (S2) 1312.51 - ( 1318.14 - 1307.23 = 10.91 ) = 1301.60
Third Support (S3) 1307.23 - ( 1318.14 - 1312.51 = 5.63 x 2 = 11.27 )= 1295.96


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