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 April 7, 2016

Gold continues to move sideways but is still inside the bearish channel. The trend remains bearish as long as the price is below $1,240 with increased chances of a push lower towards $1,190. If, however, at this stage we do not move towards $1,190 and break above $1,240, there are a lot of chances of making a new high towards $1,300.

analytics570600e821fa6.jpg

Blue lines - bearish channel

Blue area - support

Yellow area - resistance

Gold is below the Kumo (cloud) on the 4-hour chart and is still inside the bearish channel. The trend remains bearish. Short-term support is at $1.215 and short-term resistance is at $1,233. The price is mainly moving sideways but unable to make higher highs.

analytics5706014a19868.jpg

The weekly chart remains fragile with the stochastic oscillator turning lower from overbought levels. However, as long as the weekly candle closes above the tenkan-sen, bulls are in control. As long as the weekly candle closes above $1,223, bulls still have chances for a new higher high.The material has been provided by InstaForex Company - www.instaforex.com