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 $4,803, rebounding after reaching 61.8% ($4,650) of the Fibonacci retracement from the low of $4,401 to the high of $5,090.
After this sharp technical correction in less than 24 hours from $5,020 to the 61.8% Fibonacci, gold is rebounding. It is likely to continue rising in the coming days, potentially reaching the psychological level of $5,000. It is expected to exceed this zone and reach the +1/8 Murray around $5,312.
If, in the coming hours, gold could make a technical correction towards the 50% Fibonacci retracement or towards the 200 EMA around $4,727, it will be seen as an opportunity to open long positions.
If gold falls and consolidates below the 61.8% Fibonacci level and below the 200 EMA, the outlook could be negative, and gold is expected to retreat and reach the $4,500 level. It could even reach the January 30 low around $4,400.
The Eagle indicator is showing a positive signal, so it's a good idea to buy gold during a technical correction in the coming hours, provided that the price consolidates above $4,670.
*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.
