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
    1.3955+0.0068+0.49%
    USDSGD=X
    1.5736+0.0022+0.14%
    EURSGD=X
    2.0298+0.0183+0.91%
    GBPSGD=X
    80.7517-0.3284-0.41%
    SGDJPY=X
    5.5835-0.0268-0.48%
    SGDHKD=X
    2.9855+0.0057+0.19%
    SGDMYR=X
    9,659.9668-68.2168-0.70%
    SGDIDR=X
    4.7110-0.0237-0.50%
    SGDCNY=X
    0.9913+0.0016+0.16%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,237.90-9.90-0.79%
    GCJ16.CMX
    15.69-0.10-0.66%
    SIH16.CMX
    58.76+3.36+6.06%
    ^XAU
    2.03+0.03+1.25%
    HGH16.CMX
    27.46+1.25+4.77%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.11-0.04
    ^FVX
    1.64-0.06
    ^TNX
    2.50-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.3050.0000.00%
    N21.SI
    1.595-0.015-0.93%
    MC0.SI
    3.58+0.04+1.13%
    Z74.SI
    0.360.000.00%
    E5H.SI
    2.82-0.03-1.05%
    C31.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.151+0.021+16.15%
    5PL.SI
    54.640.000.00%
    NF6.SI
    0.32+0.03+12.28%
    I06.SI
    0.147+0.014+10.53%
    5WJ.SI
    31.820.000.00%
    NF4.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.084-0.060-41.67%
    5PI.SI
    0.225-0.055-19.64%
    5SY.SI
    0.101-0.017-14.41%
    AZZ.SI
    0.51-0.06-9.73%
    BMH.SI
    0.80-0.08-9.09%
    S85.SI