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!
Gold is trading around $4,059, rebounding after reaching the 200 EMA around $4,026 and also reaching the bottom of the uptrend channel located at $4,019.
Gold could continue its rise in the coming hours and reach the daily resistance zone around $4,081. If it breaks this level, it could continue its rise to $4,145.
If gold consolidates above the 21 SMA and 6/8 Murray in the coming hours, we could open long positions, with short-term targets around $4,218. The instrument could even reach $4,311.
An obvious change in the trend for gold could be confirmed if the price decisively breaks the uptrend channel and consolidates below the 200 EMA located at $4,026. It could even fall to the 5/8 Murray located around $3,906.
The Eagle indicator is giving a negative signal, so if the price reaches resistance levels such as $4,081 or $4,120, it could be seen as an opportunity to plan short positions with a target at the psychological level of $4,000.
*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.
