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*

Technical analysis on Gold for July 4, 2018

The Gold price made a new low yesterday at $1,237 but the Daily candle closed much higher. Is the low in for Gold? Is the decline over? One thing is for sure, yesterday's reversal came at a very critical long-term support with several indicators pointing out that prices are oversold and a big bounce should follow like the previous times.

analytics5b3c7a023b072.png

Green line - long-term support

Red line - long-term resistance

Magenta lines - bearish channel

The Gold price is preparing a bullish reversal weekly candle. Bouncing off the long-term trend line support is a bullish signal, but bulls will need more follow through. The price remains inside the bearish channel and bulls will need to break above $1,270 for this bounce to move higher towards $1,300. Cloud resistance by the kijun-sen is at $1,300. Support remains at $1,235-37. Short-term resistance is at $1,260 and support at $1,248. I remain bullish Gold.

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