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!
Today, Thursday, gold (XAU/USD) retains a bearish bias for the third day in a row (and the sixth time in the last seven days), trading below the psychologically important $4,000 level.
Further confirmation of the bearish scenario is the price holding below $4,000. Given recent failed attempts to clear the 100-period simple moving average (SMA) on the 4-hour chart, the breach of the yearly low and the $4,000 level during overnight trading became an additional signal reinforcing bearish sentiment for XAU/USD.
At the same time, the Relative Strength Index (RSI, 14-period) is in oversold territory, which indicates a slowdown in downward momentum. For this reason, it makes sense to wait for a short?term consolidation or a modest rebound before opening positions targeting further declines.
Negative MACD readings (below the zero line) and their deterioration point to protracted market weakness, suggesting upside attempts may face resistance while XAU/USD trades well below the 100-period SMA (near $4,258).
In the current environment, any decisive recovery above $4,000 will likely attract new sellers in the $4,055–$4,060 area, where the 14-EMA runs on the same chart, limiting the instrument's upside potential near $4,100.
To ease bearish pressure, bulls need to overcome the 20-SMA barrier around the $4,100 round level; that would open the door to a more sustained move toward the 100-period SMA, which stands as the key resistance.
*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.
