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 edges slightly lower after testing $1,950 on Friday but manages to stay afloat in positive territory above $1,940. The impressive February jobs report from the US allowed Treasury bond yields to recover modestly, limiting XAU/USD's upside.
Apart from the encouraging fundamentals favoring gold price, the metal's technical setup on the four-hour chart also points to more upside. That said, the yellow metal has confirmed an upside breakout from a symmetrical triangle formation after yielding a four-hourly candlestick closing above the falling trendline resistance at $1,936.
With the bullish breakout, gold price is positioned to retest the 13-month highs of $1,975 if it finds acceptance above the $1,950 psychological barrier. The Relative Strength Index (RSI) is holding firmer above the midline, adding credence to a potential move higher.
On the downside, the immediate cushion is seen at the triangle resistance turned support at $1,935, below which a sharp sell-off could be triggered towards the powerful cap of $1,928. At that point, the triangle support and bullish 21-Simple Moving Average (SMA) coincide.
A firm break below the latter could lead to the pattern failure, fuelling a fresh downswing towards the ascending 50-SMA at $1,916.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
