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 $4,180, above the 21 SMA and above the downtrend channel that has been forming since September 25.
Yesterday during the US session, gold formed a bullish flag pattern. After breaking above the 1/8 Murray level, we saw a strong upward move that could continue in the coming hours until the price reaches the strong resistance at the 2/8 Murray level and might even reach the 200 EMA around $4,262.
If price pulls back toward the upper band of the downtrend channel in the coming hours and consolidates above $4,140 and the 21 SMA, this will be a positive signal to buy gold in the coming days, with targets at $4,218 and $4,262. Finally, we expect it to reach the 3/8 Murray level around $4,296.
A pullback would be an opportunity to open long positions in anticipation of the price reaching $4,300 in the coming days.
Conversely, a drop below $4,140 could change the outlook for gold, and we could expect it to retest the 0/8 Murray level around $4,062.
The Eagle indicator is showing a positive signal. However, XAU/USD may be reaching overbought levels, so we should monitor the strong resistance zones at $4,195 and $4,218 in case a technical correction occurs.
*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।
