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 $4,127 within a downtrend channel that has been forming since June 17 and below the 21 SMA. Since the opening of Tuesday's session, gold has plunged from $4,200 to $4,090, indicating strong downward pressure. We could expect it to continue falling in the coming days until it reaches the 5/8 Murray level around $4,062.
Technically, on the H4 chart, gold has formed a technical retracement zone. However, we should expect consolidation above $4,100 for a sustained bullish recovery in the coming days.
A decisive break above $4,175 and consolidation above this level could provide a positive buy signal so that we could open long positions with targets at the 6/8 Murray level around $4,375 and potentially even reaching the 200 EMA around $4,394.
The Eagle indicator has reached overbought levels, and technically, a divergence is visible. So, extreme caution is warranted, as this could mean that gold might continue its slide in the coming days and even reach the 4/8 Murray level around $3,750.
For a sustained uptrend, we should look for buy signals above $4,170; conversely, below this zone, we could expect the instrument to resume its bearish cycle.
*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।
