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!
Red lines- trading range
Blue lines- Fibonacci retracement levels
Eurostoxx50 is trading below 4,200. As we mentioned in previous posts, the 4,200 price level was key support. The index tested several times this level but never broke below it. Recent price action confirmed the importance of the 4,200 support level where we also find the 23.6% Fibonacci retracement. Eu50 index not only broke below the 23.6% Fibonacci retracement level, but it has also exited the trading range it was in for the 5 months. Price traded inside the 4,200-4,420 trading range since April. After challenging the 4,200 support for more than 4 times, the index is finally breaking below it. Bears are taking control of the trend. Next target is the 38% Fibonacci retracement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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