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 $5,157 within the uptrend channel and rebounding strongly after reaching the psychological $5,000 level, which coincided with the 200 EMA and the 8/8 Murray.
This strong technical rebound could continue over the next few hours until it reaches the 61.8% Fibonacci level around $5,250, which also coincides with the 21 SMA. From that point, the instrument could resume its bearish cycle.
In case of a technical correction towards $5,060 or towards the lower band of the uptrend channel in the coming hours, traders could also grasp an opportunity to open long positions, with targets at $5,257 and $5,312.
The Eagle indicator is showing a negative signal, so we could look for opportunities to open short positions around $5,260 or $5,311, as the target could again be to reach the psychological level of $5,000.
A sharp break below the 200 EMA could change the bullish scenario for gold, and we could expect it to return to 7/8 Murray around $4,687.
Our strategy will remain bullish for the next few days in case there is a pullback towards the daily support of $5,040 or towards the $5,110 zone.
*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.
