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 4,206 with consolidation over the last few days. In December, volume could be low, and we could expect strong and unexpected movements, so we should be very careful, as there could be high volatility due to low liquidity.
If gold consolidates below the 7/8 Murray located at 4,212, we could expect a technical correction to continue, and it could reach the bottom of the uptrend channel around 4,135 in the coming days.
The Eagle indicator is showing a negative signal, so it is likely that gold will continue its bearish cycle in the coming days and could reach the bottom of the trend channel around 4,135. If the bearish pressure prevails, it could even fall to the 6/8 Murray around 4,062.
Conversely, if the price breaks and consolidates above 4,250, the outlook could change, and we could expect it to reach the 8/8 Murray at 4,375.
A sharp break of the uptrend channel and consolidation below 4,150 could change the outlook for gold, and in the short term, it could reach the 5/8 Murray around 3,906.
*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.
