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 19, 2015

GOLDDaily.png19.png

GOLDH1.png19.png

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of $1,170.59 in a high volume. The short-mid term trend is still upward. In the daily time frame, we can observe a supply bar in a volume below the average. In the H1 time frame, we can observe a support-cluster around the level of $1,171.00. I had placed major Fibonacci expansion to find potential objective points and got Fibonacci expansion 100% at the level of $1,191.00 and Fibonacci expansion 161.8% at the price of $1,247.00.

Daily Fibonacci pivot points :

Resistance levels

R1: 1,170.70

R2: 1,178.30

R3: 1,179.00

Support levels:

S1: 1,175.90

S2: 1,175.40

S3: 1,174.50

Trading recommendations: Be careful when selling gold at this stage and watch for potential buying opportunities on dips. the next resistance level is seen around $1,191.00-$1,247.00.

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