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 | 5.8678 | 5.872 | 5.9427 | 5.7523 |
| USOil | 66.363 | 66.387 | 64.422 | 62.377 |
| UKOil | 71.649 | 71.689 | 69.876 | 67.054 |
| NGAS | 3.0586 | 3.0676 | 3.3221 | 3.1824 |
| WHEATF | 581.7 | 582.06 | 531.8 | 524.07 |
| XAUUSD | 5098.85 | 5099.75 | 5068.82 | 4877.68 |
| XAGUSD | 84.227 | 84.606 | 82.758 | 74.282 |