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 $4,427 with strong upward momentum. After breaking through the 4/8 Murray line around $4,375, it continues to rise until it reaches the upper band of the channel around $4,435.
Gold is reaching strongly overbought levels around $4,430, where the daily R1 is located. Below this area, we could expect a technical correction in the coming hours toward the 4/8 Murray line at $4,375 and $4,326 (200 EMA).
If the instrument maintains upward momentum, we could look to $4,453 as a key level for opening short positions, as technically, a correction toward the 200-day moving average around $4,326 is likely to occur below this level.
A potential uptrend could emerge above $4,453; however, there is a strong likelihood that a technical correction will occur first, given that gold has continued to rise for several consecutive days from the $4,062 level. For now, we are seeing signs of a correction that would prevent the price from a further rise, as extremely overbought conditions are evident.
Following a technical correction toward the 200 EMA at $4,326 or the 3/8 Murray level, this could be a key point to open long positions, with targets at $4,375 and potentially even at $4,453.
Our trading plan for the coming hours is to wait for gold to reach resistance levels around $4,430 or $4,453 to sell, with targets at $4,375 and $4,326.
*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.
