Commodity Technical Analysis: Gold Nears Measured Objective

Daily Bars

eliottWaves_gold_body_gold.png, Commodity Technical Analysis: Gold Nears Measured Objective

Chart Prepared by Jamie Saettele, CMT

Commodity Analysis: “Viewed in light of the 3 wave advance from 1672.50, the trend is lower.” Last week’s breakdown confirms the bearish suspicions. Continue to look lower from the current levels towards a Fibonacci confluence, former resistance, and channel support that cluster near 1630.

Commodity Trading Strategy: The most bearish count is valid against 1703. Shorts against that level remain warranted.

LEVELS: 1560 1600 1641 1676 1686 1703

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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.172+0.001+0.58%
    N21.SI
    0.925+0.005+0.54%
    G13.SI
    0.169+0.005+3.05%
    5DM.SI
    0.184-0.001-0.54%
    40E.SI
    0.420.00+1.20%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.225+0.035+18.42%
    BTJ.SI
    0.255+0.035+15.91%
    AWI.SI
    0.40+0.05+14.29%
    L5I.SI
    0.58+0.05+9.43%
    BHU.SI
    0.169+0.014+9.03%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.33-0.23-41.07%
    MR8.SI
    0.15-0.03-18.48%
    5MQ.SI
    0.205-0.015-6.82%
    AXH.SI
    0.225-0.015-6.25%
    1C3.SI
    0.26-0.02-5.45%
    S29.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4245+0.0086+0.61%
    USDSGD=X
    1.5205+0.0042+0.28%
    EURSGD=X
    1.7515-0.0041-0.23%
    GBPSGD=X
    79.6330+0.055+0.07%
    SGDJPY=X
    5.4432-0.0328-0.60%
    SGDHKD=X
    3.1352-0.0163-0.52%
    SGDMYR=X
    9,396.2578-65.79-0.70%
    SGDIDR=X
    4.7976-0.0413-0.85%
    SGDCNY=X
    1.0737+0.0035+0.33%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,212.20-0.70-0.06%
    GCG17.CMX
    17.29+0.14+0.83%
    SIH17.CMX
    89.04-0.05-0.06%
    ^XAU
    2.62-0.01-0.38%
    HGH17.CMX
    51.36-1.12-2.13%
    CLG17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.87+0.04
    ^FVX
    2.38+0.05
    ^TNX
    2.98+0.05
    ^TYX