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


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

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.



Expert In



Technical analysis of Gold for May 20, 2016

Gold price has broken down yesterday as we expected towards $1,240 and bounced. Price stabilized for a few hours around $1,260-55 and then broke to new lows. Price is expected to move even lower as I believe the big correction towards $1,150 has started.


Black line - resistance

Gold price is below the Kumo (cloud) and below the black trend line resistance. As long as price is below them I remain bearish. Price has bounced towards the short-term resistance of $1,260. Next resistance is at $1,269. I expect price to move lower towards $1,230 at least over the coming days. Bounces are opportunities to sell.


The weekly stochastic is turning lower and a break below the 80 level will be a bearish signal. Price is testing the weekly tenkan-sen (red line indicator) and a weekly close below it will confirm the bearish reversal and that an important top is in. I expect at least a pull back towards the $1,180 level where the upper cloud boundary is found.The material has been provided by InstaForex Company -