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 4,617, rebounding after reaching a low at about 4,570 during the US session. Gold could continue to rise in the coming hours and reach a high around 4,635, and we even expect it to reach 6/8 Murray around 4,687.
If gold falls below 4,635 and the price consolidates below this zone, we could expect a technical correction in the coming days, and it could reach 5/8 Murray around 4,571.
The first daily resistance is located around 4,625; this level could offer an immediate barrier for gold in the coming hours. If gold breaks through this level, we could expect it to reach R_2 around 4,653. This level could also be a target for bulls, but a possible technical reversal could occur if it reaches this level.
If the price reaches 6/8 Murray, we would be practically overbought, and a fall in gold would be imminent after reaching this zone.
The Eagle indicator is showing a negative signal as it has reached overbought levels, so we will look for opportunities to sell in the coming hours below 4,635, with targets at the 21 SMA located at 4,550 and finally at 5/8 Murray located at 4,531.
Remember that gold has left two gaps around 4,505 and another at 4,327. Both levels could be covered in the coming days, so we expect a sharp fall in gold towards the key level of 4,300.
*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.
