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!
Early in the American session, gold is trading around 2,880, below the 21 SMA, and within the bullish trend channel forming since January 20.
If the bearish trend prevails in the next few hours, we expect gold to reach the bottom of the bullish trend channel around 2,857. This level could offer good support and from that point, we could expect a technical bounce to occur.
If the bullish cycle resumes in the next few hours and the price consolidates above 2,880 - 2,891, the outlook could be positive, but it would have to face strong resistance located around 2,907, where the pivot point is located, which could serve as a key level.
The current level of 2,880 acts as a strong support. So, we expect a technical bounce to occur in the next few hours. Hence, the instrument could reach 2,909. Below this area, gold could resume the bearish cycle.
In the meantime, we will look for opportunities to buy above 2,880, with targets at 2,891 and 2,907. A technical bounce is expected in the next few hours.
On the contrary, if the gold price falls below 2,880, the outlook could be negative and it could quickly reach 2,872. Finally, the price could reach the bottom of the uptrend channel around 2,857.
The eagle indicator is showing a positive signal after a strong technical correction. Now the trading volume could resume which could favor the strength of gold.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
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