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!
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Silver
On the monthly chart, two hyperchannel price lines converge at a single point—at the psychological level of 56.000. This convergence is expected to occur either in the final days of October (possibly coinciding with the next Federal Reserve meeting) or in the first days of November.
At this price level, the signal line of the Marlin oscillator will reach the Fibonacci reaction level of 361.8%. After attaining the projected target, a correction is likely, with a pullback toward the nearest line of the green channel in the 43.545 area.
On the daily chart, the Marlin oscillator's signal line has twice attempted to break above the upper boundary of its own channel. A similar failed attempt in the near future may trigger a stronger decline in price.
On the four-hour chart, the price and oscillator have formed a divergence. Although this divergence is not entirely clean, there is a high probability that it will morph into a broad consolidation range. A firm close below the MACD line—below the 52.052 level—will constitute the first clear signal of a deeper price correction.
*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.
