http://prntscr.com/4gktfv
analysis for today 8 / 26 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 8 / 25 / 2014
OPEN 1280.85
HIGH 1281.00
LOW 1274.37
CLOSED 1276.59
The third resistance (R3) 1281.00 - ( 1277.32 - 1274.37 = 2.95 x 2 = 5.90 )= 1286.90
The second Resistance (R2) 1277.32 + 1281.00 - 1274.37 = 1283.95
First resistance (R1) 1277.32 x 2 = 2554.64 - 1274.37 = 1280.27
pivot points 1281.00 + 1274.37 + 1276.59 = 3831.96 / 3 = 1277.32
Support for the first (S1) 1277.32 x 2 = 2554.64 - 1281.00 = 1273.64
Support second (S2) 1277.32 - ( 1281.00 - 1274.37 = 6.63 ) = 1270.69
Third Support (S3) 1274.37 - ( 1281.00 - 1277.32 = 3.68 x 2 = 7.36 )= 1267.01


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