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 4, 2014

Gold price consolidates near the recent highs above $1,200. If short-term support at $1,200-$1,190 holds, then we could see another break out towards $1,260-$1,270. If support fails, we should push lower towards $1,170. A bullish flag is being formed and a break out above $1,215 will give us a buy signal.


goldh4.jpg

Gold price is consolidating near the 38% retracement of the decline from $1,343. Price is below the Ichimoku cloud. So, strong resistance at $1,220 if broken we could see another upward move towards at least the 50% retracement at $1,240 or even the 61.8% retracement at $1,262.


gold.jpg

Red lines = triangle pattern


Gold price is making a triangle pattern between $1,215 and $1,200. A break out above $1,215 will put the recent highs to the test and if support fails we should push towards $1,170. There is a bullish flag pattern also that could give us a target of $1,270. A breakout above $1,220 will confirm that we are heading towards $1,270. A rejection at current levels will imply that the downward correction is not over.


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