MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri Jul 25, 2014 08:26 AM CDT

The rally in December gold may not be over according to technical indicators, but it has certainly lost its glitter over the last couple of weeks.

After testing resistance on its week chart at $1,341.90, a price that marks the 67% retracement level of its previous downtrend from $1,391.90 through the low of $1,241.70, the contract has fallen back to test support between $1,294.60 and $1,276.90. These prices mark the 50% and 67% retracement levels of the initial rally.

Notice that weekly stochastics (bottom chart) did not move above the overbought level of 80% before the contract turned down. This ...

Quick View
  • Enlist Cotton Approved USDA has made its final decision to deregulate Dow AgroScience's Enlist cotton trait, which means...
  • Market Moves Weaning and preconditioning top the list of aggravating and expensive chores for most ranchers. C...
  • Ask The Mechanic Ask the Mechanic answers the question about how VW and German engineering was able to get by with...
  • Batten Down the Hatches Purdue economists forecast multiple years of negative or narrow margins for corn and soybean prod...
  • PNW Ag Hit by Historic Drought In addition to problems with the Northwestern wheat crop, cattle are also being adversely affecte...
  • RFS Deadline Nears With the deadline to file comments on the proposed Renewable Fuel Standard volumes to strike at m...
  • Woodbury: Farm Family Business Agendas don't always lead to immediate decisions, but can still cement your family unity.
  • Multi-Year Losses Spur Concern The recent price rally offered growers a welcome opportunity to price 2014 and 2015 crops, but it...
  • Ask the Vet The vet says my calf had Mannheimia. What is that?
Related News Stories
DTN's Quick Takes
DTN Closing Grain Comments
DTN Midday Livestock Comments
DTN Midday Grain Comments
DTN Before The Bell Grain Comments
Gulke: Collapsing Markets
DTN Early Word Grains
DTN Early Word Opening Livestock
DTN Technically Speaking Blog
DTN Closing Grain Comments