http://prntscr.com/4wbn97
analysis for today 10 / 15 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 10 / 14 / 2014
OPEN 1236.00
HIGH 1237.90
LOW 1230.88
CLOSED 1232.22
The third resistance (R3) 1237.90 - ( 1233.67 - 1230.88 = 2.79 x 2 = 5.57 )= 1243.47
The second Resistance (R2) 1233.67 + 1237.90 - 1230.88 = 1240.69
First resistance (R1) 1233.67 x 2 = 2467.33 - 1230.88 = 1236.45
pivot points 1237.90 + 1230.88 + 1232.22 = 3701.00 / 3 = 1233.67
Support for the first (S1) 1233.67 x 2 = 2467.33 - 1237.90 = 1229.43
Support second (S2) 1233.67 - ( 1237.90 - 1230.88 = 7.02 ) = 1226.65
Third Support (S3) 1230.88 - ( 1237.90 - 1233.67 = 4.23 x 2 = 8.47 )= 1222.41


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