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 June 8, 2015

Gold remains in bearish trend in all time frames. Gold price is below the medium-term resistance level of $1,200. Despite a rising EUR/USD, bulls do not seem able to push prices higher. The rejection signals we got over the last month are not good and show us that gold price is likely to fall below $1,130.

Red line = trend line support

Black lines = bearish channel

Gold has broken below the trend-line support from $1,140. It remains inside the downward sloping channel from $1,233 and below the Ichimoku cloud. Short-term resistance is at $1,180 and then at $1,200. Support is at $1,160 and $1,140.

Blue line - support trend line

The weekly chart remains bearish as the price is below both tenkan- and kijun-sen indicators ( red and yellow lines) and also below the weekly cloud area. The price is below the intermediate low hit in May. Although, we might see another bounce towards $1,190-$1,200, the trend remains bearish and I expect $1,130 to be tested soon.

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