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 price made a high today at $1,789 and is now trading at $1,774. Short-term trend remains bullish. Our first target of $1,788 has been achieved and now we wait to see if this up trend continues towards $1,806.
In the 4 hour chart we see Gold price above the cloud. Trend is bullish as long as price is above the cloud. Above the $1,738 level. Price is moving below the 4 hour tenkan-sen (red line indicator). This is a sign of weakness. A pull back towards the kijun-sen (yellow line indicator) is possible. This support is at $1,756.In the Daily chart price has entered the Kumo. Trend has changed from bearish to neutral. In order for Daily trend to change to bullish, price must break the resistance of the upper cloud boundary at $1,817. Daily support is found at $1,756 and $1,740. Holding these levels will keep bulls with high hopes of breaking above $1,817.*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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