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 | 5.0691 | 5.0733 | 5.0881 | 4.9134 |
| USOil | 65.289 | 65.323 | 65.578 | 64.643 |
| UKOil | 67.981 | 68.041 | 68.344 | 67.349 |
| NGAS | 3.5495 | 3.5615 | 3.6009 | 3.516 |
| WHEATF | 541.34 | 542.44 | 548.43 | 540.7 |
| XAUUSD | 3337.4 | 3337.7 | 3350.5 | 3329.19 |
| XAGUSD | 36.644 | 36.677 | 36.854 | 36.218 |