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 $5,014, below the 200-day EMA and the 21-day SMA, under downward pressure, and is likely to continue falling in the coming hours.
If gold consolidates above the 200 EMA around $5,046 and breaks above this zone, the uptrend is expected to continue, with the price potentially reaching the 21 SMA around $5,090 and possibly even the top of the uptrend channel around $5,100.
If gold breaks above the 21 SMA and above the bearish trend channel, this could be seen as a buying opportunity, and gold could then return to levels around $5,250—last week's high—and could even reach February's high around $5,450.
Conversely, as long as the instrument trades below the 200 EMA, it means downward pressure. So, the metal is likely to continue falling in the coming hours until it reaches the weekly S_1 support level around $4,896.
Given that gold is showing a positive signal according to the Eagle indicator, we could expect the price to consolidate above $5,046 and then open long positions. We must be cautious, as the price could reach this zone and face strong resistance.
*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।
