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 | 5.0528 | 5.057 | 5.0881 | 4.9134 |
| USOil | 65.107 | 65.141 | 65.578 | 64.643 |
| UKOil | 67.784 | 67.844 | 68.344 | 67.349 |
| NGAS | 3.5301 | 3.5421 | 3.6009 | 3.516 |
| WHEATF | 540.82 | 541.92 | 548.43 | 540.57 |
| XAUUSD | 3335.26 | 3335.56 | 3350.5 | 3329.19 |
| XAGUSD | 36.566 | 36.6 | 36.854 | 36.218 |