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 at 3,029.38, above the +1/8 Murray level, reaching overbought levels and above the psychological level of $3,000.
Market fears are driving the price of the precious metal. We believe that once these events occur, gold will suffer a strong technical correction.
Technically, gold is overbought. However, it could continue to rise in the coming days, reaching the +2/8 Murray level at 3,046.88.
The H4 chart shows gold facing strong weekly resistance around 3,037, which could serve as a barrier as it is technically showing overbought signs.
Gold could suffer a strong technical correction below +2/8 Murray due to the extreme overbought levels observed. Hence, the metal could reach the support level of 3,007 and even reach the 21-SMA around 2,989.
Since gold is a safe haven asset in the face of risk aversion, investors are trying to buy this instrument. We believe it could continue to rise in the coming hours. So, we could continue buying above 3,020.
We also expect a strong technical correction, as XAU could fall toward the support level of 2,980 and even reach the Murray 8/8 at 2,968.
*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।
