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!
Red lines- bearish channel
Blue lines- Fibonacci retracement levels
Gold price is trading above $1,880 and continues making higher highs and higher lows in the near term. Price remains inside the medium-term downward sloping red channel. Price as expected by our previous posts, is bouncing higher towards the upper channel boundary around $1,900 Thus far Gold price has retraced more than 50% of our last decline. Next upside target is at the 61.8% Fibonacci retracement level at $1,895. Our view since the beginning of this reversal was that Gold should reach the upper channel boundary around $1,900. So we continue to believe there is still some upside potential for Gold price.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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