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 for Gold for November 30, 2018

Gold price reached the recent highs around $1,230 again yesterday but was unable to break above resistance yet. Price is now pulling back once again confirming the importance of the short-term resistance area at $1,230.

analytics5c00dc56be61f.png

Blue rectangle- major resistance area

Red rectangle - important short-term resistance

Green line - major trend line support

Gold price held the 61.8% Fibonacci retracement level and did not break below the green trend line support. These are two very important bullish signs. Not only that, but prices bounced strongly back towards last weeks highs at $1,230. Breaking above this resistance will be an important bullish sign for more upside. Target will then be a move to $1,250-60 at least. Major support area is now at $1,211-$1204. Breaking below this week's lows will be a bearish sign. Breaking below the green trend line support would increase the chances for a move much lower than $1,180. For now bulls keep the upper hand and as long as $1,203 holds.

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