Commodity Technical Analysis: Gold Probes Lows before Closing Near High of Day

Daily Bars

eliottWaves_gold_body_gold.png, Commodity Technical Analysis: Gold Probes Lows before Closing Near High of Day

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 rally reversed just shy of Fibonacci resistance at 1727 and another run on the level can’t be dismissed following today’s rally. The line in the sane for me is the 11/23 high at 1754.

Commodity Trading Strategy: Nothing.

LEVELS: 1641 1673 1685 1711 1723 1727

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2522-0.0007-0.05%
    USDSGD=X
    1.7295-0.0011-0.06%
    EURSGD=X
    2.1019-0.0021-0.10%
    GBPSGD=X
    81.8406+0.1079+0.13%
    SGDJPY=X
    6.1926+0.0032+0.05%
    SGDHKD=X
    2.5859+0.0013+0.05%
    SGDMYR=X
    9,120.0225-31.1963-0.34%
    SGDIDR=X
    4.9706+0.0064+0.13%
    SGDCNY=X
    1.1684-0.0001-0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,294.60-8.90-0.68%
    GCM14.CMX
    19.65+0.02+0.08%
    SIK14.CMX
    90.18-0.65-0.72%
    ^XAU
    3.04+0.02+0.51%
    HGK14.CMX
    104.59+0.83+0.80%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.73+0.08
    ^FVX
    2.72+0.08
    ^TNX
    3.52+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.115-0.002-1.71%
    B22.SI
    0.48+0.020+4.35%
    5GJ.SI
    2.27+0.090+4.13%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.61+0.005+0.83%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.034+26.56%
    5GF.SI
    0.20+0.034+20.48%
    5WD.SI
    0.59+0.050+9.26%
    L5I.SI
    0.28+0.020+7.69%
    C33.SI
    0.215+0.015+7.50%
    5UE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.103-0.010-8.85%
    5OS.SI
    0.112-0.008-6.67%
    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
    0.215-0.015-6.52%
    F9M.SI
    0.29-0.020-6.45%
    5PC.SI