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 | 6.5423 | 6.5465 | 6.6197 | 6.5111 |
| USOil | 85.594 | 85.628 | 85.698 | 84.602 |
| UKOil | 91.369 | 91.429 | 91.865 | 90.591 |
| NGAS | 2.7196 | 2.7316 | 2.7335 | 2.6864 |
| WHEATF | 690.33 | 691.43 | 696.56 | 674.83 |
| XAUUSD | 4391.19 | 4391.49 | 4436.39 | 4386.05 |
| XAGUSD | 64.798 | 65.117 | 66.725 | 64.594 |