Commodity Technical Analysis: Gold Probably Faces Resistance at 1727

Daily Bars

Commodity_Technical_Analysis_Gold_Probably_Faces_Resistance_at_1727_body_gold.png, Commodity Technical Analysis: Gold Probably Faces Resistance at 1727

Chart Prepared by Jamie Saettele, CMT

Commodity Analysis: “Viewed in light of the 3 wave advance from 1672.50, the trend is lower.” Friday’s JS Spike right at mentioned support (1685) will probably propel gold to at least the 61.8% retracement of the decline from the 11/12 high at 1727. There is trendline resistance to keep an eye on as well.

Commodity Trading Strategy: Look to short strength from 1727 to 1738 with a 1754 stop.

LEVELS: 1673 1683 1704 1727 1738 1754

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3517+0.0032+0.24%
    USDSGD=X
    1.4426-0.0057-0.39%
    EURSGD=X
    2.0096-0.0002-0.01%
    GBPSGD=X
    88.5071+0.0829+0.09%
    SGDJPY=X
    5.7343-0.013-0.23%
    SGDHKD=X
    2.6951+0.0044+0.16%
    SGDMYR=X
    9,583.4902-54.6367-0.57%
    SGDIDR=X
    4.5869-0.0106-0.23%
    SGDCNY=X
    1.0428+0.0009+0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,195.30+1.60+0.13%
    GCM15.CMX
    15.99+0.11+0.67%
    SIK15.CMX
    71.20+0.26+0.36%
    ^XAU
    2.730.00-0.04%
    HGK15.CMX
    57.48-0.40-0.69%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.32+0.03
    ^FVX
    1.90+0.05
    ^TNX
    2.57+0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.225+0.005+2.27%
    5GB.SI
    0.290.00-1.69%
    5WA.SI
    1.045+0.020+1.95%
    G13.SI
    0.87-0.01-1.69%
    N21.SI
    4.32-0.09-2.04%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.295+0.030+11.32%
    G10.SI
    0.52+0.03+7.22%
    P9D.SI
    0.245+0.020+8.89%
    C50.SI
    0.133+0.009+7.26%
    E13.SI
    0.26+0.01+6.12%
    I85.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.05-20.00%
    5WD.SI
    0.11-0.02-15.38%
    5GF.SI
    0.21-0.03-12.50%
    5TS.SI
    0.225-0.030-11.76%
    41H.SI
    0.725-0.055-7.05%
    AUE.SI