Commodity Technical Analysis: Gold Probes Short Term Trendline

Daily Bars

eliottWaves_gold_body_gold.png, Commodity Technical Analysis: Gold Probes Short Term Trendline

Chart Prepared by Jamie Saettele, CMT

Commodity Analysis: Gold’s decline reversed just before the level where the decline from the October high would consist of 2 equal waves and the 61.8% retracement of the rally from the 2012 low. Currently testing short term trendline resistance and the 20 day average, a reaction would encounter support at 1680. Resistance is estimated above 1700.

Commodity Trading Strategy: Flat

LEVELS: 1635 1657 1680 1703 1723 1731

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.36350.000.00%
    USDSGD=X
    1.5094+0.0011+0.08%
    EURSGD=X
    2.1284-0.0005-0.03%
    GBPSGD=X
    90.6491-0.007-0.01%
    SGDJPY=X
    5.6845-0.0005-0.01%
    SGDHKD=X
    2.7923+0.0013+0.05%
    SGDMYR=X
    9,864.6836+14.666+0.15%
    SGDIDR=X
    4.5548+0.0005+0.01%
    SGDCNY=X
    1.0005-0.0009-0.09%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,094.80-1.40-0.13%
    GCQ15.CMX
    14.65+0.01+0.05%
    SIU15.CMX
    47.47+0.81+1.73%
    ^XAU
    2.41+0.01+0.42%
    HGU15.CMX
    47.74-0.24-0.50%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.01
    ^FVX
    2.25+0.02
    ^TNX
    2.96+0.02
    ^TYX

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