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 September 12, 2014

GOLDDaily12.png


GOLDH412.png


Overview:


Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,231.98 in a volume above average. The price rejected from our Fibonacci retracement 38.2% at the level of 1,272.00, and that is the reason why we saw further bearish bias. Our major Fibonacci expansion 61.8%% is broken, so we may see potential testing the level of 1,218.00 (Fibonacci expansion 161.8%). According to the 4H timeframe, we can observe weak demand in a volume below average, which is a sign that buying looks risky.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,247.78


R2: 1,251.47


R3: 1,257.47


Support levels:


S1: 1,235.77


S2: 1,232.07


S3: 1,226.07


Trading recommendations: Buying looks risky since the price has broke our Fibonacci expansion 61.8%.


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