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!
Today, Monday during the European session, as well as on Friday, the XAU/USD pair demonstrated some stability below the 200-period simple moving average (SMA) on the 4-hour chart. However, the absence of further growth calls for caution from the bulls.
Moreover, the oscillators on the same chart are negative, warning that before opening long positions and preparing for further growth toward the $4150–4145 resistance, it is advisable to wait for the price to strengthen above the round $4100 level. This momentum could continue, allowing the precious metal to attempt another break above the round $4200 level.
On the other hand, weakness below the 200-period simple moving average around $4062 and the 100-period simple moving average on the 4-hour chart, which is currently near $4044, may find support close to Friday's low around $4032. Next comes the psychological level of $4000. A decisive break below it would make the price of the yellow metal vulnerable, accelerating the decline toward the intermediate support at $3931 on the way to the round $3900 level and the October low near $3886.
*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.
