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*

Gold Wave analysis for September 25, 2014

Gold price has given a short-term sell signal yesterday by breaking below $1,222. Earlier today, it has also broken below support at $1,215. Right now, Gold price is making new lows and following our expected move lower towards $1,200-$1,190. We noted in our previous analysis that the upward bounce was of a corrective form and that downward pressures were going to resume.


goldh4.jpg

Green line = price channel


Gold price did not manage to bounce higher towards our $1,240-50 target and gave several sell signals yesterday by breaking below support at $1.215. The trend remains clearly bearish as price is below the Ichimoku cloud and still inside the downward sloping channel.


goldd.jpg

Our longer-term view remains bearish and that is why we prefer not to trade any upside bounce but follow the trend on signs of weakness. The long-term taret I have is at $1,000 and we will have confirmation for that level when we break below the lows at $1,180. We are very close to testing this level. We remain bearish and a daily close below $1,208 will push gold price towards $1,180.


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