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*

Ichimoku cloud indicator analysis of gold for January 22, 2018

Gold is making lower lows and lower highs since the high of $1,345 in the 4-hour chart. Trend remains bullish though as price continues to hold above the 4-hour Kumo (cloud).

analytics5a65988d12323.png

Red lines - bearish divergence

Green line - important support

Black line- short-term resistance

Gold price is trading right above the Kumo (cloud) in the 4-hour chart. Price is testing cloud support. Short-term support is at $1,325 and resistance at $1,337. A break below $1,235 could push price towards the green line support at $1,309. A break below the cloud will change trend to bearish for the short-term.

analytics5a6598e5af08b.png

Magenta line -long-term resistance

The weekly candle implies the rejection was not very strong but price was rejected and we could see another lower weekly candle this week. Price has weekly support at $1,290 and next at $1,250. I'm bearish Gold. Key support is at $1,309, break it and we are off to $1,290-$1,250.

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