http://prntscr.com/557ksr
analysis for today 11 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle SILVER on the date 11 / 10 / 2014
OPEN 15.745
HIGH 15.835
LOW 15.465
CLOSED 15.570
The third resistance (R3) 15.835 - ( 15.623 - 15.465 = 0.158 x 2 = 0.317 )= 16.152
The second Resistance (R2) 15.623 + 15.835 - 15.465 = 15.993
First resistance (R1) 15.623 x 2 = 31.247 - 15.465 = 15.782
pivot points 15.835 + 15.465 + 15.570 = 46.870 / 3 = 15.623
Support for the first (S1) 15.623 x 2 = 31.25 - 15.84 = 15.412
Support second (S2) 15.623 - ( 15.835 - 15.465 = 0.370 ) = 15.253
Third Support (S3) 15.465 - ( 15.835 - 15.623 = 0.212 x 2 = 0.423 )= 15.042