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 Technical analysis for November 21, 2014

Gold price remains below important resistance level of $1,207 and is consolidating near its highs within a sideways trading range. The upward move from $1,130 is considered a corrective counter trend move relative to the decline from $1,255. I expect a downtrend to resume soon.


gold.jpg

Red line=resistance


Blue line=support


Gold price as shown in the chart above trade within the trading range of $1,174 and $1,204. The trend is neutral as long as price is inside this range. Breaking the blue trend line support will give me a sell signal that will push Gold price towards $1,145 low. Breaking above $1,204 will give me a buy signal with $1,215-$1,223 target.


goldh4.jpg

Black line=support


Gold price is above the Ichimoku cloud. It is consolidating near the highs of this upward move and near the 61.8% retracement resistance. This is the most probable level to see a trend reversal to the downside. Once Gold price breaks $1,175 support, we should expect the cloud support and the black trend line to be tested. My longer-term view remains bearish targeting $1,050.


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