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 $4,140, erasing all of Monday's gains. The downward momentum is likely to prevail if gold consolidates below the 21-period simple moving average (SMA) in the coming hours.
Gold is showing signs of exhaustion in its upward momentum. From a technical perspective, the correction could continue, potentially reaching the psychological level of $4,000 or the 2/8 Murray zone, around $4,062.
Given that gold is trading below a strong resistance zone around $4,200—a level it failed to break through—and that a technical correction has occurred since then, it is expected to continue falling in the coming hours.
In this regard, we should monitor the $4,134 level; below this zone, we will look for selling opportunities with targets at the lower band of the uptrend channel, around $4,040.
Conversely, if gold consolidates above $4,134 in the coming hours, the outlook could be positive, and the instrument would continue to rise until reaching $4,218—around the 3/8 Murray level—and could ultimately reach the upper band of the uptrend channel, which coincides with $4,237 and the 200-period EMA, around $4,255.
*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.
