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 is trading around $1,842. In Ichimoku cloud terms trend in the Daily chart remains bearish as price is still below the Kumo (cloud). Resistance by the lower cloud boundary is at $1,843. The tenkan-sen (red line indicator) is at $1,831 providing short-term support. Price is bouncing as a back test towards the cloud. A rejection at cloud resistance would strengthen the bearish scenario. Bulls want to see daily close inside the Kumo in order to change trend to neutral from bearish. The Chikou span (black line indicator) is still below the candlestick pattern (bearish). Bulls need to defend $1,831 and break above $1,843.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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