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 November 17 , 2015

GOLDDaily.png17.png

GOLDH4.png17.png

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of $1,077.22. According to the daily time frame, I found a pin bar and reaction from sellers. Our first major resistance (change in polarity - strong support became resistance) at the price of $1,099.00 held successfully. According to the H4 time frame, we can observe weak price action and low volatility. Potential resistance levels are at the prices of $1,104.00, $1,118.00, and $1,132.00 as well as $1,145.00. Selling opportunities are preferable if the price breaks the level of $1,074.00 in a high volume. Potential profit target area will be around the level of $1,030.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,093.00

R2: 1,097.45

R3: 1,103.90

Support levels:

S1: 1,080.55

S2: 1,076.50

S3: 1,070.10

Trading recommendations: Be careful when selling gold at this stage, since the price is testing support. Watch for selling opportunities only if the price breaks the support at the level of $1,074.00.

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