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 prices have dropped to fresh intraday lows around $1,856-57 by the time of writing on Monday. The yellow metal is testing a potential support zone between $1,857 and $1,860 levels at this point in writing. Bulls are still looking poised to be back in control and push through the $1,893-95 mark, which is intermediary resistance.
Gold had earlier dropped between the $1,998 and $1,850 levels, carving a meaningful downswing as seen on the 4H chart here. The metal seems to be retracing from the above boundary within a Gartley structure. If the above structure unfolds accordingly, prices would stay above $1,850 and continue higher towards the $1,940-45 range in the next few trading sessions.
Gold is facing potential resistance around $1,943 since it is the Fibonacci 0.618 retracement of the above drop. A high probability remains for a bearish reversal if prices manage to reach the $,1940-45 zone. Bears would remain poised to be back in control thereafter and drag below $1,850 going forward. Only a break above $1,998 will delay matters further.
Potential rally through $1,940-45 against $1,850
Good luck!
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
