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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.230.000.00%
    N21.SI
    2.66-0.08-2.92%
    MC0.SI
    0.285+0.015+5.56%
    PH0.SI
    3.64-0.01-0.27%
    C31.SI
    0.380.00-1.30%
    E5H.SI
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    % Gainers
    NamePriceChange% Chg
    0.41+0.16+64.00%
    BTX.SI
    0.147+0.026+21.49%
    5IG.SI
    0.34+0.05+17.24%
    PA3.SI
    0.18+0.02+13.92%
    5TR.SI
    0.205+0.025+13.89%
    1A4.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.62-0.07-10.79%
    BEI.SI
    0.54-0.06-10.00%
    BQP.SI
    1.12-0.10-8.20%
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    AWC.SI
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    5RC.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4004-0.0037-0.26%
    USDSGD=X
    1.4824-0.0039-0.26%
    EURSGD=X
    1.7399-0.0061-0.35%
    GBPSGD=X
    80.2250+0.0020.00%
    SGDJPY=X
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    SGDHKD=X
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    SGDMYR=X
    9,521.8740+17.8506+0.19%
    SGDIDR=X
    4.9047+0.0144+0.29%
    SGDCNY=X
    1.0749-0.0026-0.24%
    AUDSGD=X
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    Commodities
    NamePriceChange% Chg
    1,251.00-7.80-0.62%
    GCJ17.CMX
    18.28-0.13-0.72%
    SIK17.CMX
    84.47-4.15-4.69%
    ^XAU
    2.69-0.01-0.33%
    HGK17.CMX
    53.91-0.14-0.26%
    CLJ17.NYM
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    TreasuryYield (%)Yield Change
    1.87+0.07
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    ^TNX
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    ^TYX