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 analysis for August 28, 2014

GOLDDaily28.png


GOLDH128.png


Overview:


Since our last analysis, gold has been trading upwards. The price tested the level of 1,296.32 in an ultra high volume according to the 1h time frame. We can observe an ultra high volume (buying climax) according to the 1h time frame, which is a sign that buying looks very risky. Our Fibonacci expansion 61.8% at the price of 1,284.00 is broken. So, we may see potential testing the level of 1,260.00 (Fibonacci expansion 100%). I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1,292.00 and Fibonacci retracement 61.8% at the price of 1,303.00. According to the 4H time frame, I have placed corrective Fibonacci expansion and I found Fibonacci expansion 161.8% at the price of 1,290.00 (currently on the test)


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,286.96


R2: 1,288.68


R3:1,291.41


Support levels:


S1: 1,281.38


S2: 1,279.66


S3: 1,276.87


Trading recommendations: Buying Gold looks risky since the price has broken the support level.


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