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 Technical Analysis for December 19, 2016.

Technical outlook and chart setups:

Gold seems to have formed a meaningful bottom at $1,122.00 levels last Thursday before pulling back higher again. Please note that the yellow metal is trading at $1,137.00 levels for now after printing intraday highs at $1,142.00 levels. The metal could be preparing to form yet another low or at least test $1,122.00 levels before resuming the trend again. Please note that the Fibonacci 0.786 support of the past rally between $1,046.00 to $1,375.00 levels comes in at $1,116.00 levels. The wave structure reveals that the recent rally from $1,122.00 to $1,142.00 levels looks to be corrective and hence the metal could drop one last time before turning higher. Immediate support is seen at $1,122.00 levels, while resistance is seen at $1,165.00 levels.

Trading recommendations:

Remain flat for now and allow a test of recent lows to initiate long positions.

Good luck!

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