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 November 09, 2015

GOLDDaily.png09.png

GOLDH4.png09.png

Overview:

Since our last analysis, gold has been trading downwards. As we had expected, the price tested the second major support at the level of $1,085.00. We can observe a massive volume spike (selling climax), which is a sign that selling gold at this stage looks risky. A trend is still downward, but since we got the massive volume spike at the critical support level we may expect an upward correction to take place. Anyway, if the price breaks the level of $1,083.00, we may see a continuation downward. The resistance level is seen at $1.102.50.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,090.25

R2: 1,090.80

R3: 1,091.70

Support levels:

S1: 1,088.50

S2: 1,087.95

S3: 1,087.35

Trading recommendations: Be careful when selling gold at this stage since the price is testing the key support level and we got the massive volume spike.

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