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*

Technical analysis of Gold for February 17, 2016

Technical outlook and chart setups:

Gold is trading at $1,206.50 now looking for an opportunity to push higher towards $1,233.00/35.00. The metal could face stiff resistance around $1,235.00 and produce a bearish reversal. The yellow metal hit interim lows just around $1,090.00 yesterday as seen on the hourly chart. The metal seeks to complete its first leg lower between $1,263.00 and $1,090.00. The metal is expected to rally through $1,233.00/35.00 before resuming its third leg lower towards $1,146.00. It is hence recommended to go long now with risk below the levels of $1,090.00. Immediate interim support is seen at $1,090.00, while resistance is found at $1,246.00. We expect a short-term rally before a bearish reversal.

Trading recommendations:

Stay long with stop below $1,090.00, a target is at $1,233.00.

Good luck!

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