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



Technical analysis on Gold for July 5, 2021

Gold price as expected made a bounce higher, however trend remains bearish as price remains below the key resistance of $1,800. Price is challenging the recent highs around $1,800 and the bullish RSI divergence has provided us with a warning to bears.


Blue line- resistance

Green lines - bullish RSI divergence

Gold price if rejected at current levels, it should move sharply lower towards $1,740. Support is found at $1,780-75. The scenario where price makes a new low closer to $1,740 is still in play. As long as price remains below $1,800, the stronger the bears will become. Bulls will need to recapture $1,800-15 in order to regain control of the trend. If bulls manage to reverse to the upside from current levels, the next leg up in Gold will bring price closer or even above the $2,000 level.

The material has been provided by InstaForex Company -