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 May 15, 2017

Gold price as expected has bounced off the $1,210-20 support area and is breaking out of the bearish channel. Price could make a pullback early this week and provide a double bottom but overall I'm pretty confident the bounce towards $1,250-60 has started.

analytics5919527a7de96.jpg

Blue lines - bearish channel

Gold price is trading below the 4-hour Kumo (cloud) and this is bearish. We could see a rejection at the cloud and a pullback today for a double bottom at $1,217. A break above $1,242 will open the way for a move towards the important resistance of $1,250-60.

analytics591952e7636dd.jpg

Red rectangle - target area

Green rectangles- oversold signs

In the daily chart we posted in our past posts, I showed the reversal signals I was seeing and also pointed out the minimum target area for the bounce that has already started. A break above the daily cloud will be a bullish long-term sign and will put an end to the bearish scenario which is waiting for a deeper pullback towards $1,160.

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