http://prntscr.com/515xfr
analysis for today 10 / 30 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 10 / 29 / 2014
OPEN 1228.12
HIGH 1230.34
LOW 1208.25
CLOSED 1211.78
The third resistance (R3) 1230.34 - ( 1216.79 - 1208.25 = 8.54 x 2 = 17.08 )= 1247.42
The second Resistance (R2) 1216.79 + 1230.34 - 1208.25 = 1238.88
First resistance (R1) 1216.79 x 2 = 2433.58 - 1208.25 = 1225.33
pivot points 1230.34 + 1208.25 + 1211.78 = 3650.37 / 3 = 1216.79
Support for the first (S1) 1216.79 x 2 = 2433.58 - 1230.34 = 1203.24
Support second (S2) 1216.79 - ( 1230.34 - 1208.25 = 22.09 ) = 1194.70
Third Support (S3) 1208.25 - ( 1230.34 - 1216.79 = 13.55 x 2 = 27.10 )= 1181.15


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