http://prntscr.com/3yvdwc
analysis for today 7 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle SILVER on the date 7 / 2 / 2014
OPEN 20.990
HIGH 21.250
LOW 20.875
CLOSED 21.115
The third resistance (R3) 21.250 - ( 21.080 - 20.875 = 0.205 x 2 = 0.410 )= 21.660
The second Resistance (R2) 21.080 + 21.250 - 20.875 = 21.455
First resistance (R1) 21.080 x 2 = 42.160 - 20.875 = 21.285
pivot points 21.250 + 20.875 + 21.115 = 63.240 / 3 = 21.080
Support for the first (S1) 21.080 x 2 = 42.16 - 21.25 = 20.910
Support second (S2) 21.080 - ( 21.250 - 20.875 = 0.375 ) = 20.705
Third Support (S3) 20.875 - ( 21.250 - 21.080 = 0.170 x 2 = 0.340 )= 20.535