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 $4,461, having rebounded sharply after hitting $4,097 during the European session. This strong recovery could push gold toward the upper band of the downtrend channel, which has been forming since March 18 in the range of $4,500 to $4,541.
Given that gold has recovered rapidly, we expect the downtrend to resume, so we will look for opportunities to sell whenever XAU/USD reaches $4,540 or falls below the daily R_1 level around $4,520.
Given that gold is struggling to continue rising, the area of $4,541, the 21 SMA, and the 7/8 Murray line could act as a strong barrier for gold; a move below this zone could be seen as a selling opportunity.
If, in the coming hours, gold pulls back toward the 6/8 Murray level at $4,375 and consolidates above this zone, it could be seen as a buy signal with targets at $4,541 and $4,628.
Our trading plan is to buy gold in the coming hours, but we should wait for a technical correction toward $4,375 or sell if the price reaches levels above $4,500 and toward $4,541.
*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.
