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 | 6.7973 | 6.8015 | 6.8119 | 6.6997 |
| USOil | 93.663 | 93.697 | 94.736 | 92.108 |
| UKOil | 98.304 | 98.364 | 99.481 | 96.744 |
| NGAS | 2.9705 | 2.9825 | 2.9986 | 2.9355 |
| WHEATF | 751.34 | 752.44 | 763.44 | 732.09 |
| XAUUSD | 4403.24 | 4403.54 | 4443.19 | 4387.86 |
| XAGUSD | 65.962 | 66.284 | 67.34 | 65.532 |