Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
After reaching a high of $4,218, gold is currently trading around $4,158 within a downtrend channel that has been forming since October 9. Yesterday, following the release of US data, gold hit a low of $4,073, coming close to the 0/8 Murray line and the October 7 low.
Taken together, these levels suggest a possible double-bottom formation, which would imply a bullish trend and could push the price to $4,292 (near the 161.8% Fibonacci level) in the coming days.
On the H4 chart, gold reached the $4,165 area, a level that coincided with the 61.8% Fibonacci retracement and the upper band of the downtrend channel, indicating strong resistance there.
If gold consolidates below $4,170 in the coming hours, the outlook could turn negative, offering a selling opportunity with targets at $4,115 and $4,062.
Conversely, if gold breaks out of the downtrend channel and consolidates above $4,170, this could confirm a double-bottom pattern and open the path toward $4,218 and then the 200 EMA near $4,237.
Note that XAU/USD left a gap on September 23 that has not yet been filled. Therefore, consolidation above $4,220 would support a recovery and make a return toward that area more likely.
*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।
