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*

Ichimoku indicator analysis of gold for April 24, 2017

Gold price as expected is pushing lower towards $1,260 as we justified a correction from last week. The causation today are the French election results. Technically Gold price could continue lower towards $1,260 or even $1,250 but my longer-term view remains unchanged.

analytics58fda3b14e0d1.jpg

The gold price has reached the 61.8% Fibonacci retracement of the last move up from $1,240 and the lower cloud boundary. If support at $1,260 fails we should expect the Gold price to move towards the 38% Fibonacci retracement of the rise from $1,180. This support level is at $1,245.

analytics58fda4521b4fc.jpg

Black line - resistance

Blue line - support

As we expected from last week Gold price got rejected at the upper cloud boundary and at the black long-term trend line resistance. Weekly support is at the red tenkan-sen indicator at $1,245. My longer-term view remains bullish. This downward move is most probably the last chance for long positions in Gold before the big breakout.

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