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 July 27, 2015

Gold price has given bullish reversal signals today by breaking out of the short-term bearish channel. My overall longer-term view remains bearish, but in the short-term we could see a bigger bounce towards $1,120-30.

goldh4.jpg

Black lines - short-term bearish channel

Blue line - long-term trendline resistance

Blue area -bounce target

Gold price is trading below the Ichimoku cloud and below the long-term blue trendline resistance. The price has broken above the bearish short-term channel and above the short-term kijun-sen (yellow indicator). This implies that a bigger bounce towards the Ichimoku cloud and $1,215-20 area at least should be expected.

goldd.jpg

Blue line - long-term support (broken)

Red lines - projection of expected price movement

The weekly chart remains bearish as the gold price is below the Ichimoku cloud and below the tenkan-sen indicator (red line). The weekly candle that has just started could signal a short-term bounce for a back test of the breakdown area. In case we reach $1,120-30 area and get a rejection, we should expect the gold price to fall towards $1,040 or even $980.

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