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 | 4.1456 | 4.1498 | 4.1652 | 4.1373 |
| USOil | 69.618 | 69.652 | 69.733 | 68.847 |
| UKOil | 73.619 | 73.679 | 73.761 | 72.885 |
| NGAS | 3.3469 | 3.3589 | 3.3726 | 3.1884 |
| WHEATF | 575.59 | 576.69 | 577.44 | 570.57 |
| XAUUSD | 2669.68 | 2669.99 | 2670.5 | 2648.73 |
| XAGUSD | 31.175 | 31.208 | 31.327 | 30.809 |