http://prntscr.com/4fkoz8
analysis for today 8 / 25 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 8 / 22 / 2014
OPEN 1276.59
HIGH 1282.71
LOW 1274.12
CLOSED 1280.68
The third resistance (R3) 1282.71 - ( 1279.17 - 1274.12 = 5.05 x 2 = 10.10 )= 1292.81
The second Resistance (R2) 1279.17 + 1282.71 - 1274.12 = 1287.76
First resistance (R1) 1279.17 x 2 = 2558.34 - 1274.12 = 1284.22
pivot points 1282.71 + 1274.12 + 1280.68 = 3837.51 / 3 = 1279.17
Support for the first (S1) 1279.17 x 2 = 2558.34 - 1282.71 = 1275.63
Support second (S2) 1279.17 - ( 1282.71 - 1274.12 = 8.59 ) = 1270.58
Third Support (S3) 1274.12 - ( 1282.71 - 1279.17 = 3.54 x 2 = 7.08 )= 1267.04


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