Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
After breaking the symmetrical triangle pattern formed on the H4 chart, gold made a new rally reaching a new high for now around 2,395. The yellow metal is approaching the psychological level of 2,400. It is likely that above 6/8 Murray, gold could extend its rise and is expected to reach 7/8 of Murray located at 2,437 in the next few days.
According to the H1 chart, we can see that gold reached the top of the bullish trend channel forming since April 5 at about 2,395. Technically, a technical correction is expected to occur below this area in the next few hours and gold could reach 2,375 and finally drop to the 21 SMA located at 2,353.
Considering that gold has been following a strong bullish trend for 12 consecutive hours, it is expected that during the next few hours in the European session, there will be a technical correction and then the instrument will be able to resume its bullish cycle.
Our trading plan for the next few hours is to sell gold below 2,395 with the target at 2,375. Around this area, we could expect a technical bounce to occur. Besides, in case there is a break below 6/8 Murray, we could continue selling with the target at 2,347, a level that coincides with the bottom of the uptrend channel. Traders could grasp the opportunity to buy in case there is a technical rebound.
*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.
