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
    1.2568-0.0013-0.10%
    USDSGD=X
    1.7388-0.0014-0.08%
    EURSGD=X
    2.1128-0.001-0.05%
    GBPSGD=X
    81.3137+0.0217+0.03%
    SGDJPY=X
    6.1691+0.0064+0.10%
    SGDHKD=X
    2.6019+0.0036+0.14%
    SGDMYR=X
    9,236.5225-19.5039-0.21%
    SGDIDR=X
    4.9770+0.0101+0.20%
    SGDCNY=X
    1.1655+0.0002+0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,293.60+3.00+0.23%
    GCM14.CMX
    19.56-0.13-0.65%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.11-0.01-0.24%
    HGK14.CMX
    101.50-0.44-0.43%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    2.22+0.010+0.45%
    JS8.SI
    1.155+0.005+0.43%
    U6C.SI
    0.122-0.001-0.81%
    B22.SI
    1.265+0.050+4.12%
    S53.SI
    1.335-0.020-1.48%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.21+0.020+10.53%
    F86.SI
    0.167+0.015+9.87%
    5HH.SI
    0.116+0.010+9.43%
    O2I.SI
    0.72+0.050+7.46%
    5DP.SI
    1.315+0.084+6.82%
    O9A.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.145-0.009-5.84%
    5GD.SI
    0.15-0.009-5.66%
    5EL.SI
    0.151-0.009-5.63%
    A03.SI
    0.30-0.015-4.76%
    K29.SI
    1.05-0.050-4.55%
    T14.SI