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 September 7, 2015

Gold price remains under pressure as prices remain below resistance levels and a short-term bearish pattern is being formed with a trigger below $1,117.

gold.jpg

Green line - cup with handle pattern being formed

Gold price is below the Ichimoku cloud in the 4-hour chart. This is the first bearish sign. Gold price reached a lower high of $1,150 and is now testing the recent low of $1,117. Breaking below this support will probably push the price towards the area of $1,100-$1,080.

goldd.jpg

The weekly chart is bearish. Last week's candle closed below the tenkan-sen. The tenkan-sen has a negative slope. The rejection at the 61,8% retracement is proving to be very solid. This week, bulls will need to hold above the recent lows manage to close above them in case of a breakout. Otherwise, we could see a test at $1,080. Bears must be very cautious as we are still trading at the 61.8% retracement of the entire rise, so a new upward leg is not out of the question yet.The material has been provided by InstaForex Company - www.instaforex.com