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 28, 2015

Gold price had broken the short-term resistance and managed to reverse the bearish picture as the price broke above the Ichimoku cloud. The breakdown below $1,180 could be fake. Now, we look very closely if this is a confirmed fake or just a bounce before a larger downward move.

goldh4.jpg

Blue lines = triangle pattern

Gold price has broken the triangle pattern and I expect a back test of the breakout area. However, the bounce was much stronger than I had expected and the price managed to break above the upper triangle boundary and above the Ichimoku cloud in the 4-hour chart. As long as gold price is above $1,195, I expect the short-term trend to remain bullish.

goldd.jpg

The weekly chart remains bearish despite the upward bounce. Gold price has moved back again above the tenkan-sen and resistance is found where the yellow line (kijun-sen) is found at $1,218-20. At the same level, we found the downward sloping red Ichimoku cloud, which is important resistance. The longer-term trend remains bearish. There is a strong possibility of a test at $1,220. Weekly support is at $1,175 and if it gets broken, things will get very ugly for bulls.

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