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 October 28 , 2015

GOLDDaily.png28.png

GOLDH4.png28.png

Overview:

Since our last analysis, gold has been trading upwards. The price tested the level of $1,172.00. The short- and mid-term trend changed from neutral to upward. In the daily time frame, we can observe an upward bar in an average volume. In the H1 time frame, we can observe a volume spike (massive selling climax) in the background at the level of $1,158.75. Be careful when selling at this stage since we may expect buyers' reaction. Only if the price breaks the level of $1,158.75, we may see a downward continuation. Otherwise, a breakout of the level of $1,180.00$ will confirm absorption of strong supply.

Daily Fibonacci pivot points :

Resistance levels

R1: 1,166.55

R2: 1,167.50

R3: 1,169.00

Support levels:

S1: 1,163.50

S2: 1,162.00

S3: 1,161.00

Trading recommendations: Be careful when selling gold at this stage and watch for potential buying opportunities. Anyway, I am waiting for a clear trend to be established.

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