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 $4,473 with a bullish bias, and we could expect it to continue rising over the next few hours until it reaches the 61.8% Fibonacci level around $4,535, or it could encounter strong resistance around the 6/8 Murray level at $4,531.
Since the opening of Thursday's Asian session, gold has been rising, and this could be seen as an opportunity to continue buying in the coming hours, as the instrument could reach the psychological level of $4,500. Even if it breaks above this zone, it could face strong resistance, so we must remain vigilant because a technical correction could occur.
Gold could come under downward pressure over the next few days if the price approaches the 6/8 Murray level. A move below this zone could be seen as a good opportunity to sell. If you, as a trader, are selling gold, you should be aware that the price could reach $4,531, and if it fails to break above this zone, it will be a good point to open short positions.
The outlook for the coming days is that gold will trade within a price range between the 6/8 Murray level and the 5/8 Murray level. Therefore, a move below the 61.8% Fibonacci level will be a strong bearish signal; hence, a move above the 23.6% Fibonacci level could be a signal to resume long positions.
The Eagle indicator is showing a bullish signal, so any pullback in gold over the next few days could be seen as a signal to continue buying. The target is $4,531, and if gold breaks above this level, it could reach the 8/8 Murray level around $4,687.
*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.
