Gold Intra-day Analysis 8th Feb. 2021
Downside Prevails
Our Pivot: 1827
Our Preference: Short sell Gold below 1819.00 with strict stop loss of 1827 and profit target at 1808 with extension towards 1805 and 1796.
Alternate Scenario: Upward penetration of 1827 will call for 1831 and 1836.
NOTE: Gold is moving in a bearish price channel and right heading for correction of its last bearish rally therefore selling on strength could be beneficial.
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 | 6.6986 | 6.7028 | 6.7435 | 6.6866 |
| USOil | 86.672 | 86.706 | 87.098 | 86.132 |
| UKOil | 91.414 | 91.474 | 91.611 | 90.694 |
| NGAS | 2.9199 | 2.9319 | 2.9491 | 2.9085 |
| WHEATF | 780.7 | 781.8 | 782.18 | 766.69 |
| XAUUSD | 4431.5 | 4431.8 | 4461.7 | 4424.65 |
| XAGUSD | 66.398 | 66.721 | 67.238 | 65.929 |