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 | 4.1519 | 4.1561 | 4.1652 | 4.1373 |
| USOil | 69.592 | 69.626 | 69.663 | 68.847 |
| UKOil | 73.595 | 73.655 | 73.686 | 72.885 |
| NGAS | 3.351 | 3.363 | 3.3679 | 3.1884 |
| WHEATF | 575.33 | 576.43 | 577.44 | 570.57 |
| XAUUSD | 2668.56 | 2668.92 | 2670.5 | 2648.73 |
| XAGUSD | 31.211 | 31.244 | 31.327 | 30.809 |