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 April 24, 2015

Gold price was pushed up towards $1,195 as we had expected. It seems that the sideways movement is forming a triangle pattern. Traders should wait for a confirmed breakout above or below the triangle boundaries before taking any action.

goldh4.jpg

Blue lines= triangle pattern

Gold price is still below the Ichimoku cloud in the 4-hour chart but has not broken below the lower triangle boundary at $1,185. Support is crucial at this level and it should be used as a stop for any long position and the level that gives a new sell signal. On the other hand, gold has resistance at $1,205 where the upper triangle boundary is found. Breaking above that level will give a buy signal with a target at $1,250-60.

goldd.jpg

In the weekly chart, the price remains trapped between the kijun-sen and the tenkan-sen. Support of the tenkan-sen was tested and held. The price continues to trade above it so the sideways consolidation is not finished yet as the price remains trapped within a trading range.

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