Commodity Technical Analysis: Gold Support Expected Near 1700

RELATED QUOTES

SymbolPriceChange
^USDOLLAR11,988.65+22.29

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
    1.3485+0.0005+0.04%
    USDSGD=X
    1.4770-0.0003-0.02%
    EURSGD=X
    2.0669+0.0021+0.10%
    GBPSGD=X
    91.8997-0.0254-0.03%
    SGDJPY=X
    5.7489-0.0029-0.05%
    SGDHKD=X
    2.7105+0.0028+0.10%
    SGDMYR=X
    9,801.4141+9.1211+0.09%
    SGDIDR=X
    4.5984-0.0019-0.04%
    SGDCNY=X
    1.0336+0.0018+0.17%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,189.20+0.40+0.03%
    GCQ15.CMX
    16.73+0.06+0.37%
    SIN15.CMX
    69.83+1.07+1.56%
    ^XAU
    2.78+0.01+0.49%
    HGN15.CMX
    58.26+0.58+1.01%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.02
    ^FVX
    2.13-0.01
    ^TNX
    2.88+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.785-0.025-3.09%
    N21.SI
    4.14+0.02+0.49%
    Z74.SI
    0.330.00-1.49%
    AFC.SI
    0.290.000.00%
    5WA.SI
    0.915-0.010-1.08%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.135+0.015+12.50%
    T16.SI
    0.45+0.05+12.50%
    AWX.SI
    1.32+0.12+10.00%
    AYO.SI
    0.50+0.04+9.89%
    MN5.SI
    0.119+0.009+8.18%
    540.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.34-0.46-25.56%
    AYC.SI
    0.139-0.041-22.78%
    40R.SI
    0.114-0.019-14.29%
    5UA.SI
    0.34-0.06-13.92%
    AWI.SI
    0.151-0.014-8.48%
    T08.SI