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!
Early in the European session, gold is trading around 3,963 above the 200 EMA, rebounding after reaching the 5/8 Murray level during the New York session yesterday.
Gold reached a low not seen since early October, around 3,886. Since then, gold has been recovering some of its losses and is now consolidating above 3,950, which has become a strong support level.
If gold reaches the 5/8 Murray level again in the next few hours, around 3,906, it will be seen as a good buying opportunity with targets around the psychological level of $4,000.
If the gold price sharply breaks the downtrend channel formed since October 20, we could see a new bullish sequence during which the istrument could reach the 6/8 Murray around 4,062 and even return to the 7/8 Murray around 4,218.
The short-term outlook for gold is to recover above 3,906, as the Eagle Indicator has reached oversold levels, and we are likely to expect the price to reach the key point of 4,062 around the 6/8 Murray.
*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.
