Commodity Technical Analysis: Gold Support Expected Near 1700

RELATED QUOTES

SymbolPriceChange
^USDOLLAR12,351.41-6.56

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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.164-0.002-1.20%
    N21.SI
    0.162+0.017+11.72%
    40E.SI
    1.025+0.045+4.59%
    G13.SI
    0.094-0.007-6.93%
    5I0.SI
    0.44+0.01+2.33%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.017+11.72%
    40E.SI
    0.525+0.050+10.53%
    43F.SI
    0.45+0.04+9.76%
    BJV.SI
    0.34+0.03+9.68%
    P9D.SI
    0.13+0.01+9.24%
    O9E.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.485-0.100-17.09%
    L5I.SI
    0.198-0.037-15.74%
    40D.SI
    0.37-0.04-9.76%
    BLL.SI
    0.285-0.030-9.52%
    BFU.SI
    0.215-0.020-8.51%
    AWI.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4185-0.0023-0.16%
    USDSGD=X
    1.5265+0.0038+0.25%
    EURSGD=X
    1.7905-0.0116-0.64%
    GBPSGD=X
    80.1710-0.08-0.10%
    SGDJPY=X
    5.4648+0.0088+0.16%
    SGDHKD=X
    3.1234+0.0137+0.44%
    SGDMYR=X
    9,422.8086-23.2178-0.25%
    SGDIDR=X
    4.8473+0.0053+0.11%
    SGDCNY=X
    1.0612+0.001+0.09%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,175.00+7.40+0.63%
    GCZ16.CMX
    17.15+0.41+2.45%
    SIZ16.CMX
    82.40+0.24+0.29%
    ^XAU
    2.64-0.03-1.20%
    HGZ16.CMX
    49.85-1.08-2.12%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.80-0.04
    ^FVX
    2.35-0.05
    ^TNX
    3.03-0.05
    ^TYX