Commodity Technical Analysis: Gold Support Expected Near 1700

RELATED QUOTES

SymbolPriceChange
^USDOLLAR12,040.23+23.27

Daily Bars

Commodity_Technical_Analysis_Gold_Support_Expected_Near_1700_body_gold.png, Commodity Technical Analysis: Gold Support Expected Near 1700

Chart Prepared by Jamie Saettele, CMT

Commodity Observations: Gold extended gains initially before failing just above the 11/1 and 10/23 highs. The rally from the 11/5 low is impulsive. “The sharp advance following a sharp decline does suggest that weakness was exhaustive and that a base is forming from which price can work higher.”

Commodity Trading Strategy Implications: Expect a dip into 1695-1702 before another rally.

LEVELS: 1685 1695 1702 1727 1749 1775

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3978+0.009+0.65%
    USDSGD=X
    1.5728+0.0015+0.09%
    EURSGD=X
    2.0286+0.017+0.85%
    GBPSGD=X
    81.0401-0.0401-0.05%
    SGDJPY=X
    5.5713-0.039-0.69%
    SGDHKD=X
    2.9661-0.0136-0.46%
    SGDMYR=X
    9,640.3916-87.792-0.90%
    SGDIDR=X
    4.7031-0.0315-0.67%
    SGDCNY=X
    0.9926+0.0029+0.30%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,238.80-9.00-0.72%
    GCJ16.CMX
    15.76-0.04-0.25%
    SIH16.CMX
    60.39+1.63+2.77%
    ^XAU
    2.04+0.03+1.47%
    HGH16.CMX
    29.16+2.95+11.26%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.20+0.09
    ^FVX
    1.75+0.10
    ^TNX
    2.61+0.10
    ^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