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 2,330.57, above the 21 SMA, and above the 200 EMA. On the H4 chart, we can see that gold resumed its bullish cycle after reaching the low of 2,277. The instrument is now consolidating above the bearish trend channel and above the symmetrical triangle pattern.
Since XAU/USD is showing a positive signal, we could look for opportunities to buy above 5/8 Murray located at 2,312 or above the psychological level of 2,300.
A technical bounce around the bottom of the downtrend channel could be seen as an opportunity to buy with the target at 2,375.
Since April 30, the eagle indicator has been giving a positive signal. Therefre, we expect gold to gain momentum so that the price continues its rise until it covers the GAP left on April 18 at about 2,392.
If gold falls and returns below 2,300, it could resume its bearish cycle and the price could reach 4/8 Murray located at 2,250.
The outlook will remain positive and we will look for opportunities to continue buying gold above 2,302 in the coming days. The market sentiment report shows that there are 55.99% of traders who are buying the yellow metal.
This means that we expect gold to continue rising in the coming days. However, if it fails to consolidate above 2,375, gold could resume its bearish cycle.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
