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!
The range-trading continues between 132.93 - 133.59. The low volatility is most likely a pre-courser for downside acceleration once this deadlock is resolved. We need to see a break below minor support at 132.36 and more importantly a break below support at 131.88 to confirm that the next impulsive wave of the decrease from 135.75 is in motion. Ultimately we are looking for a break below 123.99 to complete the long-term decline from 147.96 and set the stage for a new impulsive rally. For now, our focus should remain on the downside for a final drop below 123.99.
R3: 134.95
R2: 134.12
R1: 133.68
Pivot: 133.28
S1: 132.36
S2: 131.88
S3: 131.34
Trading recommendation:
We are short GBP from 134.35 with our stop placed at 135.00. Upon a break below support at 131.88 we will lower our stop to 134.00
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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Ferrari F8 TRIBUTO
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