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!
Early in the European session, Gold was trading around 2,062.50 that is below the 21 SMA located at 2,070.59 and below the daily pivot point located at 2,072.
On the H4 chart, we can see that gold is inside an uptrend channel formed on Dec. 14. Currently, it is trading within the bullish channel and the outlook remains positive.
It has been testing the bottom of the trend channel in the last few hours. In case there is a sharp break below 2,060, we could expect a bearish acceleration and the price could reach the 200 EMA located at 2,020.
If in the next hours, gold consolidates above 2,072, we could consider this a signal for a recovery and the price could reach 2,090 and even 6/8 Murray at 2,125.
According to the technical chart, gold has upside potential but since December 26th, it has been trading within a secondary bearish channel as part of a technical correction.
We could see a break of this channel as a recovery for gold. However, if it continues to trade within the bearish channel, we could expect a drop towards 4/8 Murray which represents the psychological level of $2,000.
In the coming hours, gold could continue to move higher and a consolidation could occur in the range between 2,062 and 2,088. This level could be seen as a buying and selling opportunity.
*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。
