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 $4,188, above the 61.8% Fibonacci retracement level drawn from the July 11 low to the June 16 high, suggesting that we could expect the uptrend to continue over the next few hours until it reaches the 21-day SMA.
Last Friday, gold closed the session early due to a US holiday, so there was no price movement, which provided strong upward momentum at the start of this week. It is currently rebounding above $4,136 and could reach $4,230 for now. Below this area, we could expect a technical correction before the upward trend resumes.
At current price levels around $4,188, we could consider buying options, provided the price consolidates above the 61.8% Fibonacci level—which would support a recovery in gold—and we could expect it to reach its first target at the 38.2% level around $4,245 and ultimately reach the 23.6% level around $4,305.
Conversely, if gold breaks below the small symmetrical triangle formed during the consolidation around $4,140 and breaks below this zone, we could expect the downtrend to continue, and gold could reach the 5/8 Murray level around $4,062.
Our trading plan for the next few hours is to buy gold whenever the price consolidates above $4,160 or $4,180, with targets at $4,250, $4,300, and finally at the 6/8 Murray level around $4,375. The Eagle indicator is showing a positive signal, which supports our bullish 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।
