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 around 3,333 within the downtrend channel formed on April 22. XAU/USD is showing signs of oversold and is bouncing after reaching the 6/8 Murray level and the 200 EMA area.
Gold could continue its bearish cycle if it falls below 3,333 (the top of the bearish channel) and could likely reach 3,291, even reaching the Murray 6/8 at 3,281.
Conversely, if it finds strong support around the 200 EMA, it could rebound again, as it technically shows signs of being oversold, and a recovery is expected to occur in the coming days.
On the other hand, if gold breaks and consolidates above $3,341, it could be positive, and we could look for buying opportunities with targets at $3,389 and eventually at about $3,437.
Having reached a high of $3,497, gold made a technical correction of more than $200, which means we could expect a correction in line with the Fibonacci indicator around $3,400 in the coming days. The key is to watch for the gold price to consolidate above $3,280.
Our trading plan for the next few hours is to sell gold below $3,333, with targets at $3,313 and $3,291. We can buy above $3,280 with short-term targets at $3,437.
*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।
