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 | 6.6736 | 6.6778 | 6.6989 | 6.5252 |
| USOil | 93.462 | 93.496 | 93.417 | 90.138 |
| UKOil | 95.83 | 95.89 | 96.074 | 92.805 |
| NGAS | 3.1585 | 3.1705 | 3.2341 | 3.0935 |
| WHEATF | 602.08 | 603.18 | 610.44 | 598.94 |
| XAUUSD | 4488.67 | 4488.97 | 4541.66 | 4463.03 |
| XAGUSD | 75.022 | 75.347 | 77.178 | 74.326 |