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 | 6.1259 | 6.1301 | 6.223 | 6.0609 |
| USOil | 74.468 | 74.502 | 76.093 | 71.729 |
| UKOil | 79.019 | 79.079 | 80.616 | 75.434 |
| NGAS | 3.217 | 3.229 | 3.3601 | 3.2115 |
| WHEATF | 605.7 | 606.8 | 627.43 | 610.07 |
| XAUUSD | 4079.13 | 4079.43 | 4134.2 | 4021.59 |
| XAGUSD | 58.214 | 58.538 | 61.188 | 57.063 |