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 January 29, 2015

Gold price continues the sideways consolidation inside the triangle pattern. Trend is neutral in the short-term as we wait to see the direction of the breakout. In my opinion, the most possible is breaking upwards above $1,298 and reaching my target of $1,330.


goldh4.jpg

Red lines = triangle pattern


Gold price is inside a contracting triangle pattern. Soon we will see a breakout. The price is inside the cloud implying that the trend is neutral. Resistance is at $1,290 and $1,298. Support is at $1,272 and at $1,265. Breaking above $1,290 will increase the chances of breaking above $1,298 and to move towards $1,330. If support at $1,272 fails, the chances to reach $1,265 and even $1,220 will increase.


goldd.jpg

On the daily chart we observe Gold price although it remains above the Ichimoku cloud, it has broken below the tenkan-sen(purple line) support which is now at $1,290. A daily close below $1,290 will put the short-term bullish trend in danger and may push the price towards the tenkan-sen (yellow line) at $1,240.




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