The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Gold prices had dropped through $1,872 mark on Thursday before finding support. We had projected a rally to resume soon after prices broke below its past support seen around $1,880 mark. The yellow metal has now rallied through $1,907 intraday on Friday at the time of writing. There could be more upside left towards $1,922 and $1,950 levels going forward.
Gold has carved a meaningful downswing between $1,998 and $1,872 levels as seen on the 4H chart here. The yellow metal will be working on the above boundary to carve a lower high before resuming lower again. The corrective wave unually unfolds into three sub-waves and looks like the first one is underway through $1,920 mark.
Gold prices are most likely to terminate around $1,950 mark, which is the Fibonacci 0.618 retracement of the above drop. The yellow metal faces immediate price resistance around $1,910, followed by $1,960 and higher while interim support is now fixed at $1,972 level respectively. A break above $1,910 will push prices through $1,920 levels and confirm that the counter trend is on its way.
Potential rally towards $1,950 against $1,870
Good luck!
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
