Gold Intra-day Analysis 5th Mar. 2021
Rebound Insight
Our Pivot: 1680
Our Preference: Buy Gold above 1692.00 with strict stop loss of 1680 and profit target at 1705 with extension towards 1714 and 1722.
Alternate Scenario: Downward penetration of 1680 will call for 1675 and 1664.
NOTE: Gold is being caged in a descending wedge and chances of a bullish breakout of this wedge are widening.
Chart with supports & resistances:
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Technical Levels
| Level | 1st | 2nd | 3rd | Supports | 0.00 | 0.00 | 0.00 | Resistances | 0.00 | 0.00 | 0.00 |
|---|
Commodities Live Prices
| Ticker | Bid | Ask | High | Low |
|---|---|---|---|---|
| Copper | 6.665 | 6.6692 | 6.6989 | 6.5252 |
| USOil | 93.458 | 93.492 | 93.417 | 90.138 |
| UKOil | 95.889 | 95.949 | 96.074 | 92.805 |
| NGAS | 3.1581 | 3.1701 | 3.2341 | 3.0935 |
| WHEATF | 602.08 | 603.18 | 610.44 | 598.94 |
| XAUUSD | 4486.85 | 4487.15 | 4541.66 | 4463.03 |
| XAGUSD | 74.962 | 75.289 | 77.178 | 74.326 |