Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Early in the American session, gold is trading around 2,641 within an uptrend channel forming since November 20, below 4/8 Murray, and below the 21 SMA.
Gold is under bearish pressure and is likely to continue the decline until it reaches the psychological level of $2,500 in the medium term which coincides with the 0/8 Murray and 200 EMA.
Meanwhile, we expect that the metal could recover some of the losses in the short term and the price could reach the 4/8 Murray at 2,656. In case XAU/USD finds strong resistance in this zone, it could be seen as an opportunity to resume selling
On the other hand, if gold breaks and consolidates above 2,656, we could expect it to return to 2,695 where it could find strong resistance.
The Eagle indicator is showing oversold signals on the daily chart. So, we believe that above 2,617, gold could consolidate over the next few days, as this area has proven to be a strong support previoudsly.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
