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*

Analysis of gold for October 05, 2016

analytics57f4e7e81d6af.png

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,266.35 in a high volume. Using the market profile analysis, I found strong downward momentum and peak area (resistance) at the price of $1,274.94 on the 30M time frame. The price is respecting that level, which is a sign that we may see downward continuation. I placed simple moving average with 48 period and found successful rejection. Watch for selling opportunities. Besides, there is an intraday upward trendline. Watch for breakout to confirm downward continuation. Downward target is set at the price of $1,250.79.

30 minutes Fibonacci pivot points:

Resistance levels:

R1: 1,276.70

R2: 1,277.05

R3: 1,277.75

Support levels:

S1: 1,275.30

S2: 1,274.90

S3: 1,274.25

Trading recommendations for today: Watch for selling opportunties. Take profit level is set at the price of $1,250.79.

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