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 analysis for October 15, 2014

GOLDDaily15.png


GOLDH415.png


Overview:


Since our last analysis, gold has been trading downwards. The price tested the level of 1,221.67. We can observe rejection from our resistnace level at the price of 1,234.00. I have placed Fibonacci retracement to find potential support levels and I got Fibonacci retracement 38.2% at the price of 1,217.00 and Fibonacci retracement 61.8% at the price of 1,204.00.According to the daily chart, we can observe weak demand in a volume below the average. On the mid term prospective, price rejected from our major Fibonacci expansion 100% at the price of 1,193.00, which caused price to start bullish phase. If the price breaks the level of 1,234.00 in a high volume, we may see the testing of the level of 1,244.00 (Fibonacci retracement 38.2%).


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,237.54


R2: 1,239.31


R3: 1,242.17


Support levels


S1: 1,231.81


S2: 1,230.84


S3: 1,227.07


Trading recommendations: Buying still looks risky since gold is near resistance level


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