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!
XAU/USD is trading around $4,137 within a secondary downtrend channel that has been forming since early September; technically, gold could continue to fall as we are seeing a bearish signal.
If gold breaks above $4,140 (1/8 Murray) in the coming hours, the instrument could rebound, and we could expect it to reach the 2/8 Murray level around $4,218.
If bearish momentum prevails, the price could reach the lower band of the downtrend channel around $4,100 and even the 0/8 Murray level around $4,062.
A consolidation above the 1/8 Murray level around $4,140—which represents a technical reversal zone—could set the stage for a recovery in gold, potentially closing the gap left earlier this week around $4,285.
Given that gold left a gap around $4,285, the outlook is bullish, and we could look for buying opportunities in the coming days, as we technically expect it to reach this level. Therefore, any pullback—as long as the price trades above $4,113—will be considered a buy signal.
We can observe on the H4 chart the formation of a triple bottom pattern, which represents a bullish signal for the coming days.
*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.
