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 $4,404, above the 200 EMA and above the 4/8 Murray level, which means it could find strong support in these areas in the coming hours and potentially rebound to reach the upper band of the downtrend channel at $4,460.
If gold reaches the 200 EMA around $4,381 or the 4/8 Murray level around $4,375, this zone represents strong support and could offer a buying opportunity in the coming hours.
A drop below the 4/8 Murray level could change the outlook for gold, and we could expect a strong technical correction toward the 3/8 Murray level around $4,296.
We must monitor this 4/8 area closely, as above it, there is a strong possibility of continued upward movement. Below it, we expect a technical correction; furthermore, if bearish momentum prevails, the instrument could reach the 2/8 Murray level around $4,218.
If gold breaks above the downtrend channel and consolidates above $4,460 in the coming days, we could expect it to reach the 6/8 Murray level around $4,531. It could then reach the 100% Fibonacci extension level around $4,590. Finally, the price could reach the 161.8% Fibonacci level around $4,730.
We believe that gold could consolidate above $4,375 in the coming days; therefore, any technical pullback toward this area will be viewed as an opportunity to continue buying.
*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.
