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!
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Gold prices have been drifting within a tight trading range between $1,835 and $1,845 since the Asian session on Mondy. The yellow metal is seen to be trading at around $1,834-35 at this point in writing and is expected to drag through $1,830-31 before resuming higher again. Bulls are looking poised to hold prices above $1,805 to remain in control.
Gold prices are still unfolding a corrective rally towards $1,920 since printing $1,786 lows earlier. The first swing terminated at around $1,880 followed by the second wave terminated at around $1,805. If the above structure holds well, prices will stage a rally towards $1,920 as the third wave is progressing against $1,805.
Gold prices are retracing from a larger degree bearish boundary between $1,990 and $1,786. The Fibonacci 0.618 retracement of the above drop is seen passing through $1,920. Hence, resistance would be strong if prices manage to push through. Traders might be preparing to hold long positions with risk below $1,805.
Potential rally through $1,920 against $1,781
Good luck!
*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。
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