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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On the 1 hour chart of the Gold commodity asset, we can see that the condition of Gold is currently being dominated by buyers. This can be seen from the Golden Cross between EMA 21 and EMA 34 and the appearance of the Descending Broadening Wedge pattern which further confirms that today's bias for gold is stronger, but If there is a weakening correction to get its strengthening momentum back as long as it doesn't weaken down below the 2078.81 level then Gold will return to its initial bias (Bull) where this commodity asset will try to break above the 2119.41 level and if this level is successfully broken above then the 2143.74 level will be the main target Even if the momentum and volatility support it, it is not impossible that Gold today will go to the level of 2156.34.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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