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- medium-term bearish channel
Black lines- short-term bearish channel
Gold price is trading around $1,850. Last Friday Gold price finally broke out of the short-term black downward sloping channel it was in. Last Friday Gold chart provided a short-term reversal signal. In our previous posts we mentioned many times that it was about time to see a bounce in Gold price. Gold was oversold in the near term and a strong move higher was justified. The geopolitical tensions in Israel have influenced market participants by providing a gap up open earlier today for the start of the week. A gap close is very possible around the $1,834 level before continuing higher towards the upper red channel boundary resistance at $1,900. Support is found at $1,820-10 area. Failure to hold above this level will lead Gold price towards $1,790 and lower.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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