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 $4,675, the level at which it closed during the Easter holidays. Gold was showing positive signs, and we could expect it to continue rising next week until it reaches the upper band of the downtrend channel around $4,770, a level that could be seen as an opportunity to open short positions.
If gold falls below the 21 SMA at 4,652 and, in turn, decisively breaks the uptrend channel formed since March 20, we could expect the downtrend to continue, potentially reaching the 6/8 Murray level around $4,375.
Given that the XAU/USD pair has upside potential, despite technically overbought levels, we could look to the 200 EMA zone around $4,801 as a point to enter short positions. Below this zone, gold is likely to undergo a strong technical correction.
If the upward momentum prevails and gold consolidates above $4,800, we could expect it to easily reach the psychological level of $5,000 and could even reach the upper band of the uptrend channel around $4,120.
In the coming days, we should closely monitor the $4,650 level; above this level, any technical rebound will be seen as an opportunity to continue buying. Below this level, we should expect a decisive break of the downtrend channel, which will be seen as an opportunity to take short positions.
*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।
