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 analysis for April 28, 2015

GOLDDaily28.png

GOLDH428.png

Overview:

Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of $1,206.92. According to the daily time frame, we can observe a demand in an ultra high volume (buying climax) with very strong price action. Our Fibonacci retracement 61.8% (support) at the price of $1,174.00 was held successfully. It caused the price to start with an upward movement. Major resistance is seen around the level of $1,220.00. The short-term trend is bullish. According to the H4 time frame, we can observe demand in a very high volume. I placed Fibonaci expansion to find potential resitance levels and got Fibonacci expansion 61.8% at the price of $1,224.00, Fibonacci expansion 100% at the price of $1,255.00 and Fibonacci expansion 161.8% at the price of $1,304.00.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,206.95

R2: 1,213.81

R3: 1,124.90

Support levels:

S1: 1,184.71

S2: 1,177.80

S3: 1,166.70

Trading recommendations: Watch for potential buying opportunities after bearish correction. The first major resistance is around the price of $1,224.00.

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