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


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

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.



Expert In



Gold price makes new lower lows according to plan.

Gold has made a low below $1,850 today entering our pull back target zone. As per our previous analysis, we expected Gold price to continue lower towards $1,850-20 area after breaking below $1,870. Gold price has made an important top at $1,916 and we expected a pull back before the up trend resumes.


Blue upward sloping lines -bullish channel (broken)

Blue lines - Fibonacci retracement

Red rectangle- resistance

Gold price has broken out of the bullish channel. Our first target is the 38% Fibonacci retracement level around $1,825. Short-term trend is bearish as Gold is making lower lows and lower highs combined with the exit out of the channel. Resistance remains key at $1,900-$1,905 and we remain bearish as long as price is below this level. I do not believe today's low is going to hold and that the current bounce is just a counter trend move.

The material has been provided by InstaForex Company -