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 October 7, 2014

Gold price has bounced strongly yesterday above $1,200 and has now reached the important downward sloping channel boundaries at $1,213. Trend remains bearish in the longer-term as price is below the Ichimoku cloud. Our longer-term view remains bearish as long as price is below $1,233.


goldh4.jpg

Blue line= support


Green line= price channel


Gold price is testing the downward sloping channel. Just above the upper channel boundaries is the Ichimoku cloud resistance. So the area between $1,213 and $1,222 is strong short-term resistance. Support is found at $1,180 and I still expect this level to be challenged once again.


gold.jpg

Blue line = support


In the short-term chart as shown above, important short-term support levels are the $1,202.50 level from the horizontal support trend line, and the $1,206 level from the upward sloping blue trend line. Breaking those two support trend lines will confirm that bears are again back in control and that a new lower low below $1,180 should be expected.


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