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 | 6.5801 | 6.5843 | 6.5852 | 6.5557 |
| USOil | 100.694 | 100.838 | 101.778 | 100.558 |
| UKOil | 109.811 | 109.871 | 110.026 | 104.884 |
| NGAS | 3.0431 | 3.0551 | 3.1284 | 3.0259 |
| WHEATF | 657.83 | 658.93 | 670.81 | 655.82 |
| XAUUSD | 4186.31 | 4186.61 | 4186.65 | 4163 |
| XAGUSD | 57.228 | 57.554 | 57.616 | 56.715 |