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 August 28 , 2015

GOLDDaily28.png

GOLDH128.png

Overview:

Since our last analysis, gold has been trading upwards. The price tested the level of $1,132.79. According to the daily time frame, we can observe a test of supply bar (potential sign of strengh). Anyway, we saw weakness in today's price action in the H1 time frame. We got no demand bar and up-thrust bar. Watch only for selling opportunities after retracement. Strong support has been seen at the level of $1,117.50. If the price breaks this support level, we will have the second support around $1,111.00. On the background, we can observe a strong sign of weakness (supply came in), which shows that this can be a turning point in the mid-term prospect.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,127.00

R2: 1,129.00

R3: 1,134.00

Support levels:

S1: 1,118.30

S2: 1,115.60

S3: 1,111.20

Trading recommendations: The strong sign of weakness is in the background. Watch only for selling opportunites after retracement.

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