Commodity Technical Analysis: Gold Structural and Measured Resistance into 1750

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Commodity_Technical_Analysis_Gold_Structural_and_Measured_Resistance_into_1750_body_gold.png, Commodity Technical Analysis: Gold Structural and Measured Resistance into 1750

Chart Prepared by Jamie Saettele, CMT

Commodity Observations: Gold extended gains just above structural resistance and is nearing resistance from measured levels at 1740, 1749, and 1762. The latter level is where the rally from the low would consist of 2 equal legs.1780 can’t be ruled out either.

Commodity Trading Strategy Implications: I’m on the lookout for a wave 2 or B top below the October high.

LEVELS: 1685 1703 1712 1749 1762 1780

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2520-0.0008-0.07%
    USDSGD=X
    1.7302-0.0004-0.02%
    EURSGD=X
    2.1005-0.0036-0.17%
    GBPSGD=X
    81.8198+0.0871+0.11%
    SGDJPY=X
    6.1933+0.0039+0.06%
    SGDHKD=X
    2.5862+0.0017+0.07%
    SGDMYR=X
    9,122.8594-28.3594-0.31%
    SGDIDR=X
    4.9698+0.0056+0.11%
    SGDCNY=X
    1.1682-0.0003-0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,294.60-8.90-0.68%
    GCM14.CMX
    19.67+0.01+0.05%
    SIN14.CMX
    90.18-0.65-0.72%
    ^XAU
    3.04+0.02+0.51%
    HGK14.CMX
    104.59+0.83+0.80%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.73+0.08
    ^FVX
    2.72+0.08
    ^TNX
    3.52+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.115-0.002-1.71%
    B22.SI
    0.48+0.020+4.35%
    5GJ.SI
    2.27+0.090+4.13%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.61+0.005+0.83%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.034+26.56%
    5GF.SI
    0.20+0.034+20.48%
    5WD.SI
    0.59+0.050+9.26%
    L5I.SI
    0.28+0.020+7.69%
    C33.SI
    0.215+0.015+7.50%
    5UE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.103-0.010-8.85%
    5OS.SI
    0.112-0.008-6.67%
    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
    0.215-0.015-6.52%
    F9M.SI
    0.29-0.020-6.45%
    5PC.SI