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 | 4.9293 | 4.9335 | 5.0629 | 4.8779 |
| USOil | 63.354 | 63.388 | 63.993 | 62.494 |
| UKOil | 65.306 | 65.366 | 65.876 | 64.596 |
| NGAS | 3.7241 | 3.7361 | 3.7964 | 3.6159 |
| WHEATF | 545.58 | 546.68 | 549.69 | 540.07 |
| XAUUSD | 3352.14 | 3352.44 | 3403.56 | 3339.35 |
| XAGUSD | 35.625 | 35.66 | 36.088 | 34.417 |