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 December 02, 2014

GOLDDaily02.png


GOLDH402.png


Overview :


Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of 1,220.90 in an ultra high volume (buying climax). According to the daily time frame, we can obesrve demand in an ultra high volume (buying climax), which is a sign that buying at this stage looks very risky. Our Fibonacci expansion 100% at the price of 1,217.00 held successfully, which enabled the price to start with downward movement. I have placed Fibonacci retracement to find potential support levels and I got Fibonacci retracement 38.2% at the price of 1,191.00 and Fibonacci retracement 61.8% at the price of 1,172.00. My advice is to look for buying opportunities near the lows (after retracement). Any larger reaction from buyers may confirm further bullish continuation.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,223.89


R2: 1,142.61


R3: 1,272.90


Support levels:


S1: 1,163.31


S2: 1,144.59


S3: 1,114.30


Trading recommendations: Watch for potential buying opportunities after retracement (buy on the lows).


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