Commodity Technical Analysis: Gold Support Expected Near 1700

RELATED QUOTES

SymbolPriceChange
^USDOLLAR10,473.29+0.45

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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
    1.2582+0.0028+0.23%
    USDSGD=X
    1.7395+0.0048+0.27%
    EURSGD=X
    2.1138+0.0072+0.34%
    GBPSGD=X
    81.3398-0.334-0.41%
    SGDJPY=X
    6.1619-0.0137-0.22%
    SGDHKD=X
    2.5981-0.003-0.12%
    SGDMYR=X
    9,254.9941-44.6904-0.48%
    SGDIDR=X
    4.9664-0.0023-0.05%
    SGDCNY=X
    1.1648-0.0011-0.09%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,291.50+6.90+0.54%
    GCM14.CMX
    19.67+0.24+1.22%
    SIK14.CMX
    91.73-1.15-1.24%
    ^XAU
    3.12+0.06+1.86%
    HGK14.CMX
    101.84+0.40+0.39%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123+0.001+0.82%
    B22.SI
    0.15+0.008+5.63%
    545.SI
    0.635+0.040+6.72%
    5WH.SI
    0.615+0.005+0.82%
    E5H.SI
    1.355+0.005+0.37%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    20.00+4.200+26.58%
    K6S.SI
    1.215+0.190+18.54%
    S53.SI
    0.415+0.045+12.16%
    570.SI
    1.345+0.130+10.70%
    5DA.SI
    0.154+0.014+10.00%
    5GD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.62-0.520-24.30%
    N02.SI
    0.20-0.020-9.09%
    E94.SI
    0.179-0.013-6.77%
    567.SI
    0.30-0.020-6.25%
    508.SI