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 September 2, 2014

Gold price has broken short-term support at $1,280and is testing the lows at $1,270. Critical support is at that level. Our bullish scenario is now in danger of getting canceled. The bearish scenario sees Gold price to move to $1,200.


goldh4.jpg

Gold price has broken the previous low at $1,280. Price remains below Ichimoku cloud and is testing previous lows at $1,270. Resistance is found at $1,295-90. As long as price is below that level, we should expect the downtrend to remain strong. When price breaks below $1,270, we should expect a strong sell off.


goldd.jpg

The price level at $1,270 is where the red upward trend line is found. Breaking that level will cancel my wave count and will put pressures on Gold price with $1,200 as a potential target. Price is still below the Ichimoku cloud in the daily chart. As long as price is below the cloud, the trend will remain bearish. $1,295 is a critical resistance level and should be used as a stop for short positions.


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