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 September 2, 2016

Gold price is showing signs of a bullish reversal at the current levels. I was expecting Gold to reach $1,280-90 and we still might see this level today after the NFP numbers are announced. But overall, we are very close to a strong bounce in Gold. The confirmation will come as soon as price breaks above $1,320.

analytics57c92ea7b65a9.jpg

Black line - long-term resistance

Red lines - bearish channel

Price is inside the bearish channel and is back testing the green area that was once support. Price is in a bearish medium-term trend as long as it stays below the cloud. However, the $1,300-$1,280 area is important support that could provide a big bounce back to $1,350.

analytics57c92eeb31ffb.jpg

Blue lines - bullish channel

Price has reached very close to the weekly kijun-sen (yellow line indicator) while it is still inside the long-term bullish channel. We could still see some more downside towards $1,290 but bears should be cautious as a strong bounce could come next.

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