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 | 6.3322 | 6.3364 | 6.3583 | 6.3279 |
| USOil | 89.113 | 89.147 | 89.918 | 88.643 |
| UKOil | 91.815 | 91.855 | 94.466 | 89.564 |
| NGAS | 3.1291 | 3.1411 | 3.1466 | 3.1291 |
| WHEATF | 584.59 | 585.69 | 595.31 | 581.2 |
| XAUUSD | 4235.88 | 4236.78 | 4261.22 | 4232.34 |
| XAGUSD | 64.73 | 65.074 | 65.569 | 64.649 |