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 | 4.6379 | 4.6421 | 4.7391 | 4.6261 |
| USOil | 63.339 | 63.373 | 63.693 | 62.738 |
| UKOil | 66.23 | 66.29 | 66.626 | 65.694 |
| NGAS | 3.4995 | 3.5115 | 3.63 | 3.4749 |
| WHEATF | 522.07 | 523.17 | 525.31 | 510.33 |
| XAUUSD | 3177.52 | 3177.82 | 3257.28 | 3173.81 |
| XAGUSD | 32.148 | 32.184 | 32.997 | 32.108 |