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
    1.3688+0.0012+0.08%
    USDSGD=X
    1.5161+0.0006+0.04%
    EURSGD=X
    2.0881+0.0003+0.02%
    GBPSGD=X
    87.4968-0.0224-0.03%
    SGDJPY=X
    5.6644-0.0059-0.10%
    SGDHKD=X
    2.6725-0.0014-0.05%
    SGDMYR=X
    9,497.3975-6.5156-0.07%
    SGDIDR=X
    4.5804-0.0017-0.04%
    SGDCNY=X
    1.0698+0.0006+0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,203.60+2.70+0.22%
    GCJ15.CMX
    16.25+0.09+0.54%
    SIK15.CMX
    72.69-1.12-1.51%
    ^XAU
    2.660.00+0.02%
    HGK15.CMX
    51.74+0.21+0.41%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.60-0.01
    ^FVX
    2.120.00
    ^TNX
    2.72+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1910.0000.00%
    5MC.SI
    4.12-0.04-0.96%
    Z74.SI
    0.137+0.002+1.48%
    5GB.SI
    0.121-0.003-2.42%
    G31.SI
    0.5750.0000.00%
    5I3.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.25+0.06+31.58%
    B26.SI
    0.235+0.015+6.82%
    D79.SI
    0.48+0.03+6.67%
    MN5.SI
    0.215+0.010+4.88%
    I07.SI
    0.325+0.015+4.84%
    L02.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.086-0.019-18.10%
    T16.SI
    0.20-0.02-9.09%
    B1N.SI
    0.94-0.08-7.84%
    E16.SI
    0.225-0.015-6.25%
    5OC.SI
    0.64-0.04-5.19%
    O9E.SI