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
    1.3521-0.001-0.07%
    USDSGD=X
    1.4978-0.0028-0.19%
    EURSGD=X
    2.1106-0.0057-0.27%
    GBPSGD=X
    91.3101+0.4354+0.48%
    SGDJPY=X
    5.7329-0.0225-0.39%
    SGDHKD=X
    2.7972+0.0079+0.28%
    SGDMYR=X
    9,863.5527-52.2002-0.53%
    SGDIDR=X
    4.5886-0.0184-0.40%
    SGDCNY=X
    1.0285-0.0093-0.89%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,163.50-5.80-0.50%
    GCQ15.CMX
    15.640.00+0.01%
    SIZ15.CMX
    61.37-1.77-2.81%
    ^XAU
    2.64+0.01+0.23%
    HGU15.CMX
    56.86-0.10-0.18%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.70+0.07
    ^FVX
    2.42+0.08
    ^TNX
    3.20+0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.300.000.00%
    5WA.SI
    0.165-0.003-1.79%
    5DN.SI
    0.85+0.02+2.41%
    N03.SI
    0.745-0.010-1.32%
    N21.SI
    0.76-0.01-1.30%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.45+0.11+32.35%
    AWX.SI
    0.24+0.05+26.32%
    40U.SI
    0.72+0.10+16.13%
    AWN.SI
    0.22+0.02+12.24%
    TI6.SI
    0.28+0.03+12.00%
    L38.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.175-0.120-40.68%
    AZS.SI
    0.19-0.05-19.15%
    AZX.SI
    0.25-0.05-16.67%
    Y06.SI
    0.184-0.036-16.36%
    AWR.SI
    0.285-0.035-10.94%
    UV1.SI