MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Gold wave analysis for October 6, 2014

Gold price has pushed towards our short-term target of $1,180 as expected and bounced after testing this important low from June 2013. Gold price remains in a fully bearish trend and we continue to expect we will see new lower lows towards $1,000.


goldh4.jpg

Blue line= support


Green line= price channel


Gold price remains in a bearish trend. Price is below the Ichimoku cloud and still inside the downward sloping channel. After breaking the short-term support at $1,204 Gold price has pushed lower towards $1,180 which was our short-term target. A bounce from this level was expected as this price area is the important low made in June 2013.


goldh1.jpg

Short-term trend changes would take place only if Gold price breaks above $1,225. Resistance is found at $1,197 and at $1,220. I do not expect Gold price to be able to push again above $1,210 and I believe it is just back testing the break out area at $1,204. I expect selling pressures to resume and finally push Gold price below $1,180. 1st short-term target is found at $1,170 and then at $1,120.


The material has been provided by InstaForex Company - www.instaforex.com