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!
Early in the American session, gold was trading around $2,990, consolidating below the psychological level of $3,000 and reaching overbought levels.
Gold is expected to continue rising in the coming hours and could reach +1/8 Murray at $3,007. If bullish strength prevails, it could reach +2/8 Murray at $3,046. To achieve this, we expect the price to remain above $2,980.
Technically, the psychological level around $3,000 could act as a pivot point. If the price of the metal falls below this level, it could rise again. On the other hand, if the price breaks above this level, the instrument could correct towards this zone.
The new all-time high reached on Friday around 3,004 will be the first barrier to overcome. From there, we could expect a move to the 3,046 level, which represents extremely overbought conditions.
On the other hand, a technical rebound around the 8/8 Murray level at 2,968 could offer an opportunity to buy gold. If this scenario occurs, overbought pressure could ease, and traders could buy XAU/USD again with a target at 3,046.
A drop below the 21 SMA could change the course, and gold could enter a bearish phase. So, we could expect the price to reach the 200 EMA around 2,883.
*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।
