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 January 15, 2014

GOLDDaily15.png

GOLDH415.png


Overview :


Since our last analysis gold has been trading upwards. As we expected, the price has tested the level of 1,260.70 in a high volume. Weak supply from yesterday caused price to continue with upward movement. According to the H4 time frame, we can observe demand in a high volume on the market, which is a sign that selling gold at this stage looks risky. Our Fibonacci expansion 161.8% around the price of 1,265.00 is on the test. Be careful when selling gold and watch for potential buying opportunities on the lows. We got support level at the price of 1,244.00 (swing high like support).


Daily pivot Fibonacci points:


Resistance levels :


R1: 1,244.44


R2: 1,254.37


R3: 1,264.14


Support levels :


S1: 1,224.74


S2: 1,214.97


S3: 1,205.04


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


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