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 February 01, 2019

analytics5c54497338df8.png

Buying climax in the background on Gold. The buying climax represents a big sign of weakness, which made Gold trade sideways. So far, I found that buyers don't have power for another strong push higher, so we exited our both long positions with 3,700-pips profit. Now we are waiting for a potential break of the key short-term support at $1,316.00 to confirm the downside. Major resistance is set at the price of $1,325.00.The potential head and shoulders pattern is in creation, which is another sign of the potential weakness.

R1: $1.330.00

R2: $1.335.50

R3: $1.339.45

Pivot: $1.326.80

S1: $1.321.25

S2: $1.317.27

S3: $1.312.35

Trading recommendation: We are neutral on Gold but if we see the break of the support ($1.316.00), we will sell Gold with SL at $1.325.00 and targets at $1.309.50-$1.298.00.

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