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!
Early in the American session, gold is trading around 3,278 after a sharp drop due to US data and showing signs of weakening bearish momentum. Gold has good support around the 6/8 Murray level, this level is key.
Gold is eventually breaking the 6/8 Murray level. If it continues its bearish cycle, it could find another support around 3,259 (200 EMA). In this area, we could also expect a technical rebound.
The confirmation for buying gold in the coming hours is to wait for the price to consolidate above 3,281. We can then buy with targets at 3,298, 3,310, and finally around the 7/8 Murray level at 3,359.
On the other hand, a break and consolidation above 3,305 and above the downtrend channel could confirm a strong bullish move for gold, potentially reaching the 8/8 Murray at 3,437.
Gold left a gap around 3,324 in early May and is likely to be filled in the coming days. For this, we should expect the price to consolidate above the psychological level of 3,300.
*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.
