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!
On Friday, gold (XAU/USD) is struggling to extend its intraday rebound from the $3,960 level and remains capped below the $4,055 level. At the same time, the pair is on track for its fourth straight weekly decline.
From a technical perspective, repeated failed recovery attempts near the 100-period Simple Moving Average (SMA) on the 4-hour chart, along with the drop below the $4,000 level, continue to favor sellers and confirm a short-term bearish scenario.
However, at present, the MACD indicator is showing moderately positive momentum, while the Relative Strength Index (RSI) remains below the neutral 50 level, signaling persistent selling pressure and the absence of a convincing upside reversal.
The nearest resistance is located around $4,055; a breakout above this level would open the way toward the round figure of $4,100. However, further gains are likely to be viewed as selling opportunities and may be capped by the 100-period SMA zone near $4,230.57. Failure to consolidate above this level will keep the short-term bearish trend intact.
*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.
