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 December 24, 2014

Gold price has back tested the broken neckline at $1,180 and I believe we should expect more selling pressures to push Gold price towards at least $1,130. Trend is bearish. Bears are in control as long as price is below $1,210-20.


goldh4.jpg

Red line = resistance


Gold price remains below the red downward sloping trend line resistance and below the Ichimoku cloud. Gold price has also broken the neckline support at $1,180, reached $1,170 and has successfully back tested the breakout level only to be rejected. Gold price is in a short-term downtrend as price is making lower lows and lower highs.


gold.jpg

Blue line = support


The weekly chart remains fully bearish and if this week closes below $1,193 we should expect the lows at $1,130 to be challenged. Holding above $1,193 could signal another bounce towards $1,240. However, this scenario has the least chances of success. I prefer to remain bearish as long as we trade below $1,210.


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