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*

Technical Analysis of Gold for January 23, 2015

The ECB latest announcement supported gold. The yellow metal attracts inflows followed after the larger than expected QE program from the ECB. The yellow metal has been extending its upward journey a third week in a row. Currently, gold is trading on a muted mode after the Saudi King Abdullah’s death. Besides, the HSBC China flash manufacturing PMI data was released. The data indicated ongoing slowdown in the manufacturing sector. Flash China Manufacturing PMI™ was at 49.8 in January (49.6 in December) hitting a 2-month high. Despite the fact that the metal breached Wednesday’s high at $1,304.70, it failed to keep above it at yesterday’s session. The metal gave an invested h&s breakout and is aiming for $1,340.00 odd levels in the near term. On the h4 chart, the metal closed and is trading below 35DEMA levels. The metal has support at $1,295.00 and $1,292.00. On the higher side, the resistance exists at $1,304.00 and $1,309.00. We can see fresh buying above $1,309.00 with the targets at $1,322.00, $1,324.00, $1,330.00, and $1,340.00. The metal has a strong support zone at $1,282.00 and $1,279.00. We recommend buying above $1,304.00; safe buying will trigger above $1,309.00.


GOLDDaily_(5).pngThe material has been provided by InstaForex Company - www.instaforex.com