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 | 6.3321 | 6.3363 | 6.3583 | 6.3279 |
| USOil | 89.104 | 89.138 | 89.918 | 88.643 |
| UKOil | 91.815 | 91.855 | 94.466 | 89.564 |
| NGAS | 3.1304 | 3.1424 | 3.1466 | 3.1294 |
| WHEATF | 584.59 | 585.69 | 595.31 | 581.2 |
| XAUUSD | 4236.26 | 4237.16 | 4261.22 | 4232.34 |
| XAGUSD | 64.715 | 65.06 | 65.569 | 64.649 |