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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.16+0.01+5.96%
    N21.SI
    0.112+0.003+2.75%
    40E.SI
    0.285+0.010+3.64%
    5ME.SI
    0.13+0.01+6.56%
    A50.SI
    0.107+0.002+1.90%
    40F.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.13+0.02+16.07%
    BEH.SI
    0.119+0.015+14.42%
    A7S.SI
    0.34+0.04+13.33%
    AYV.SI
    0.395+0.045+12.86%
    BQF.SI
    0.182+0.020+12.35%
    BGO.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.154-0.013-7.78%
    5WJ.SI
    0.16-0.01-5.88%
    5G1.SI
    0.185-0.011-5.61%
    B7K.SI
    0.100.00-4.76%
    42D.SI
    0.142-0.007-4.70%
    5AM.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3632+0.0043+0.31%
    USDSGD=X
    1.5298+0.0059+0.39%
    EURSGD=X
    1.7690+0.0007+0.04%
    GBPSGD=X
    74.1480+0.036+0.05%
    SGDJPY=X
    5.6865-0.0176-0.31%
    SGDHKD=X
    3.0268-0.0048-0.16%
    SGDMYR=X
    9,554.7959-6.8066-0.07%
    SGDIDR=X
    4.8918-0.0184-0.37%
    SGDCNY=X
    1.0445-0.0001-0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,323.20-0.50-0.04%
    GCZ16.CMX
    19.17+0.04+0.23%
    SIZ16.CMX
    94.93-0.74-0.78%
    ^XAU
    2.190.00+0.05%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.130.00
    ^FVX
    1.560.00
    ^TNX
    2.290.00
    ^TYX