Pivot Points and Daily Support and Resistance.
The calculation for the new day are calculated from the High (H), low (L) and close (C) of the previous day. Pivot point = P = (H + L + C)/3 First area of resistance = R1 = 2P - L First area of support = S1 = 2P - H Second area of resistance = R2 = (P -S1) + R1 Second area of support = S2 = P - (R1 - S1)
http://www.sixer.com/y/s/education/tutorial/edpage.cfm?f=pivots.cfm&OB=indicators http://www.tradertalk.com/tutorial/Pivpt.html