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 October 3, 2017

The gold price remains in a bearish trend. This pullback has the purpose to throw out weak bulls. This pullback is corrective. Technically we should soon see a reversal to the upside. The signal will be given on a break above $1,277.

analytics59d3321f9a49d.jpg

Black line - resistance

Blue lines - bullish divergence signs

With the RSI weakening and not making new lows as price does, the time for a strong bounce and resumption of the uptrend is getting closer. Support is at $1,267 and next at $1,250. Resistance is at $1,277 and next at $1,298.

analytics59d332a3647bf.jpg

Magenta line - resistance

Blue line - support

The gold price could be heading towards the Kumo (cloud) support at $1,250 after breaking below the kijun-sen (yellow line indicator). We continue to consider this pull back as a buying opportunity but we still have not seen a reversal signal. My longer-term view remains bullish.

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