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 is trading around $5,020, reaching the upper band of the downtrend channel formed since January 28. It has attempted to break out of this channel on several occasions but has been unsuccessful.
Following the technical rebound from the 38.2% Fibonacci zone reached during Wednesday's US session, gold is likely to resume its bearish cycle and could reach $4,867. If it breaks this zone, where the 21 SMA is located, we could expect a fall towards the 200 EMA around $4,728. It could even reach the 23.6% Fibonacci retracement level around $4,687.
The Eagle indicator is showing a negative signal, so we will look for opportunities to sell in the coming hours from current levels below the psychological level of $5,000 with targets at $4,867 and $4,728.
With a sharp break and consolidation above $5,050, gold could reach the 61.8% Fibonacci, a key level that could be seen as an opportunity to open short positions.
In case of a consolidation above $5,120 (61.8%), the instrument could go ahead with its bullish cycle and reach $5,312, where the +1/8 Murray is located, and finally reach its all-time high of around $5,600.
Gold is expected to continue its bearish cycle in the coming hours, so we will look for opportunities to sell as the Eagle indicator supports our bearish strategy.
*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।
