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
    0.184+0.002+1.10%
    40E.SI
    0.173+0.001+0.58%
    N21.SI
    0.120.00-0.83%
    40F.SI
    0.47+0.01+2.17%
    5OT.SI
    2.64+0.01+0.38%
    MC0.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.28+0.04+16.67%
    BLZ.SI
    0.265+0.035+15.22%
    PH0.SI
    0.34+0.03+11.48%
    K29.SI
    0.895+0.055+6.55%
    E16.SI
    0.158+0.006+3.95%
    A04.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.24-0.02-5.88%
    BQM.SI
    2.02-0.11-5.16%
    BAI.SI
    0.141-0.017-10.76%
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    P34.SI
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    AYV.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4182-0.0063-0.45%
    USDSGD=X
    1.5236+0.0016+0.11%
    EURSGD=X
    1.7618+0.0027+0.15%
    GBPSGD=X
    80.0880-0.079-0.10%
    SGDJPY=X
    5.4689+0.0299+0.55%
    SGDHKD=X
    3.1318+0.0139+0.45%
    SGDMYR=X
    9,415.5137-21.2314-0.22%
    SGDIDR=X
    4.8261+0.0052+0.11%
    SGDCNY=X
    1.0737-0.0022-0.20%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,219.00+17.50+1.46%
    GCG17.CMX
    17.26+0.26+1.52%
    SIH17.CMX
    88.68+1.12+1.28%
    ^XAU
    2.66+0.05+1.82%
    HGH17.CMX
    52.33+0.96+1.87%
    CLG17.NYM
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    Bonds
    TreasuryYield (%)Yield Change
    1.94-0.01
    ^FVX
    2.47+0.01
    ^TNX
    3.05+0.01
    ^TYX