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 | 6.7998 | 6.804 | 6.8209 | 6.6997 |
| USOil | 94.039 | 94.073 | 94.736 | 92.108 |
| UKOil | 98.714 | 98.774 | 99.481 | 96.744 |
| NGAS | 2.9564 | 2.9684 | 2.9986 | 2.9355 |
| WHEATF | 753.19 | 754.29 | 763.44 | 732.09 |
| XAUUSD | 4394.68 | 4394.98 | 4443.19 | 4387.86 |
| XAGUSD | 65.782 | 66.103 | 67.34 | 65.532 |