Carbon Copy

Thursday Trading Session was about a carbon copy of Wednesday's trade. The Gold rallied almost $ 9.00 for a high and settling $ 8.00 higher for the day session. Once again tha U.S. Dollar was higher, the Crude Oil was negative again, (normally when this happens Gold should be negative) but the United Nations / Iran Standoff has had it's time limit come and go without a resolution. The Iranian President Mahmoud Ahmadinejad remained defiant saying "Iran has the right to pursue nuclear technologies ". As long as this showdown goes on and with the help of the 4th quarter constants (India's Wedding season, Gold wholesalers buying physical for holiday season, and seasonal up trends) Gold could enjoy a nice trend up.............

The following are my guideline numbers for Friday's 9/1 in December Gold... (early close 11:10 CST)


resistance # 2 ...............................640.50
resistance # 1 ...............................636.00
pivot ..............................................631.50
support # 1 ...................................628.00
support # 2 ...................................622.50




resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point to determine direction


















'

Gold rallies on U.N . Reports

The overnight session was slightly positive and todays day session continued the trend closing $7.00 dollars higher for the day(626.10). Despite a positive U.S. Dollar and another negative trading session for the Crude Oil it appears the Gold market is reacting to the United Nations/Iran showdown. Even with the threat of economic sanctions U.N. officials say "Iran is still enriching Uranium"and the U.N. Security Council had set Thursday as the final day to stop such activity.

The following are my guideline numbers for 8/31 Thursday/December Gold

resistance # 2...............................635.00
resistance # 1...............................630.50
pivot .............................................625.00
support # 1...................................620.50
support # 2...................................615.00


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in the market to determine direction

Choppy Tuesday

Tuesday trading session say the Gold drift lower . The gold closed 619.10as the the U.S. Dollar struggled all session long to finally close positive. The Gold closed at 619.10 almost in the middle of the days trading range. The trade in the Gold was very choppy mostly following the very negative Crude Oil market. The Crude traded and settled in the day session below $ 70.00 per barrel for the first time in a long time. If your watching my guideline numbers you know we've been right on it the last few days.

The following are my guideline numbers for wednesday 8/30 in December

resistance # 2.................................. 629.00
resistance # 1.................................. 626.00
pivot ................................................ 623.00
support # 1..................................... 620.00
support # 2..................................... 617.00



resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in market to determine direction

Despite weak Dollar Gold slips lower

Todays trading session started uneventful and moved slightly higher to 632.70 (633.00 my resistance level ) before starting it's negative move and closing at 624.10.
Despite a weak Dollar many traders believe the gold eas following the very negative Crude Oil market (down well over 200 pts. mid-session on).The fact the Dow Jones was very strong certainly didn't help the Gold market. I believe traders are taking profits in reaction to reports of higher production from South African Gold mines.

The following are my guideline numbers for Tuesday 8/29 in December Gold

resistance # 2 ..........................638.00
resistance # 1 ..........................631.00
pivot ........................................626.00
support # 1 ..............................619.00
support # 2 ..............................614.00


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in market to show direction

Quiet Friday

Fridays Gold trading session was very tame and stayed within Thursday's trading range.
The market seemed to take a break after a week of nervous tension from news of uncertainty
out of the Middle-east, nuclear threats from Iran and North Korea, and poor home sales numbers.
However news from South Africa that some producers were planning to increase their Gold production in the 4th quarter of this year seemed to calm the market.


The following are my guideline numbers for Monday 8/28 for December Gold......

resistance # 2 ..............................637.00
resistance # 1 ..............................633.00
pivot .............................................630.00
support # 1 ..................................626.50
support # 2 ..................................623.00



resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible position in the market to determine direction

Bearish trade for Gold

In today's trading session news of all sorts waffled the Gold market from start to finish.
Gold opened at634.20 rallied up over 636.00 and closed at 628.50 one Dollar off it's low.
The Gold community had plenty of chances to use middle-east and United Nations woes to run the market to the moon. With news of Israeli troops rolling into the Gaza Strip capturing a Hamas leader, German Chancellor Merkel saying"Iran's response to theUnited Nation was unsatisfactory", and rumors of North Korea about to test an under-ground nuclear explosion should have been plenty to fuel a rally. But the Gold sector chose to use the promise from South African Gold mine producers to increase their production in the years 4th quarter(supply & demand ) more Gold = lower prices. However the Chinese are still buying physical Gold and the country of India is entering it's wedding season and are also buying physical Gold.

The following are my guideline numbers for 8/25 December Gold.........


resistance # 2 .............................................643.50
resistance # 1 ..............................................635.50
pivot .............................................................631.50
support # 1 ..................................................623.50
support # 2 ..................................................619.50


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible position to show market direction

Bearish trade for Gold

In today's trading session news of all sorts waffled the Gold market from start to finish.
Gold opened at634.20 rallied up over 636.00 and closed at 628.50 one Dollar off it's low.
The Gold community had plenty of chances to use middle-east and United Nations woes to run the market to the moon. With news of Israeli troops rolling into the Gaza Strip capturing a Hamas leader, German Chancellor Merkel saying"Iran's response to theUnited Nation was unsatisfactory", and rumors of North Korea about to test an under-ground nuclear explosion should have been plenty to fuel a rally. But the Gold sector chose to use the promise from South African Gold mine producers to increase their production in the years 4th quarter(supply & demand ) more Gold = lower prices. However the Chinese are still buying physical Gold and the country of India is entering it's wedding season and are also buying physical Gold.

The following are my guideline numbers for 8/25 December Gold.........


resistance # 2 .............................................643.50
resistance # 1 ..............................................635.50
pivot .............................................................631.50
support # 1 ..................................................623.50
support # 2 ..................................................619.50


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible position to show market direction

Gold reacts to Middle-east unrest......

Today's gold trading session had a very uneasy feel all day. Early on the Gold opened around the 635.oo range and with the U.S. Dollar opening on it's lows the Gold traded up to 639.80 and the sessions high of the day. By mid session the U.S. Dollar gained strength , the Crude Oil was tanking , and some profit taking the Gold market dropped $9.00 + before settling only $ 2.00 dollars lower for the day. (633.00)

The late day rally was due to news coming out of the Middle-east.
It appears that region is every bit as explosive today as it was 10 days ago before the truce.
Lebannon is asking the U.S. to help convince Israel lift it's sea and air blockade....Israel will not lift the blockade until international troops are in buffer zone....
Syria's President said "the deployment of international troops along it's border would be taken as a hostile act"......

The following are my guideline numbers for 8/24 December Gold......

resistance # 2 ......................643.50
resistance # 1 ......................638.50
pivot .....................................634.50
support # 1 ..........................629.00
support # 2 ..........................625.50



resistance = possible opportunity to sell market
suppoert = possible opportunity to buy market
pivot = possible point in the market to determine direction

Rally to get even

Todays Gold trade started off on the negative side due to the falling off of consumer spending and inventories start to rise, the U.S. economy appears to be slowing hopefully without the threat of a recession. This news caused Gold to trade as low as $ 629.50 early in the trading session before running up to close at 634.00.

From mid session til close the market slowly rallied on the tails of a mid session positive Crude Oil move and the statement from Israel's Prime Minister Ehud Olmert " Israel will lift it's air and sea blockade of Lebannon once an International Peacekeeping Force is deployed along Lebannon's border" confirming the uneasiness inthe region.......

The following are my guideline numbers for Wednesday 8/22 December Gold.............

resistance # 2...................................644.00
resistance # 1...................................638.50
pivot .................................................634.00
support # 1.......................................629.00
support # 2 ......................................624.00


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in the market to determine direction

Rally to get even

Todays Gold trade started off on the negative side due to the falling off of consumer spending and inventories start to rise, the U.S. economy appears to be slowing hopefully without the threat of a recession. This news caused Gold to trade as low as $ 629.50 early in the trading session before running up to close at 634.00.

From mid session til close the market slowly rallied on the tails of a mid session positive Crude Oil move and the statement from Israel's Prime Minister Ehud Olmert " Israel will lift it's air and sea blockade of Lebannon once an International Peacekeeping Force is deployed along Lebannon's border" confirming the uneasiness inthe region.......

The following are my guideline numbers for Wednesday 8/22 December Gold.............

resistance # 2...................................644.00
resistance # 1...................................638.50
pivot .................................................634.00
support # 1.......................................629.00
support # 2 ......................................624.00


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in the market to determine direction

BULL RUN

Today trading session was a welcome relief for the bull trading camp closing $ 13.50 dollars higher. The rally was fueled by news of a possible breach concerning the truce between Israel and Hezbollah forces. Israeli commanders were concerned with the number of U.N. troops being employed to the region. The truce called for 15,000 U.N. troops so far only 200 French U.N. troops have arrived. Many other countries are resisting sending troops into this battle zone.
as a result Israel doesn't want to leave without a comfort zone between them and Hezbollah.

There is huge open interest in Gold futures and options on the long side.(traders are buying Gold ). The tension in the Middle-east are pushing the Crude Oil up and the U.S. Dollar down...

The more tension and the bigger the threats in the middle-east look for Gold to go higher !!!

The following are my guideline numbers for Tuesday 8/21 in december Gold.......




resistance # 2..............................645.00
resistance # 1..............................640.50
pivot ...........................................631.00
support # 1..................................626.00
support # 2..................................617.00


resistance = possible point to sell market
support = possible point to buy market
pivot = possible point in market to determine direction

Bear Friday

Today Gold opened at 625.00 rallied up to it's high 628.80 before doing a 180 degree turn falling to 616.50 before closing at 621.50. The U.S. dollar turning positive after a negative opening and the Crude Oil breaking from 7048 down to 6960 by mid session certainly got the ball rolling.

The best thing the bulls can take away from this week is the price of 750 - 1000 December Calls
were cheaper to buy at the weeks end.....

The following are my guideline numbers for Monday 8/21


resistance # 2..................634.00
resistance # 1..................627.50
pivot ........ .......................622.00
support # 1 ....................615.00
support # 2 ....................610.00



resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in the market to show direction

Bear from start to finish

Today the trade in the Gold day session was a bear trend from start to finish.
The Gold market followed a very negative Crude Oil market and with a rise in the equities the Gold traders took the market down over $ 13.00 settling at 625.30 in December.

The Gold community traders are certainly a breed apart.The market is forced to adjust constantly to changing trends. Yesterday while Crude Oil was tanking the Gold was $ 8.00 dollars higher. (Both Gold and Crude Oil are " anti dollar") . Today Gold,Crude, and U.S. Dollar were all very negative at the same time for most of the session.

The way I see it the truce in Lebannon is the driving force to the Crude Oil sell off and moving investors to swap their safe haven long Gold positions for short Crude Oil positions.

The following are my guideline numbers for 8/17 for December Gold......


resistance # 2..............................648.50
resistance # 1..............................636.50
pivot ............................................618.00
support #1...................................618.00
support #2...................................611.50




resistance = possible opportunity to sell market
support = possible opportunity to buy mark
pivot = possible point in the market to indicate direction

Strong Gold rally

The Wednesday trading session in the Gold market opened higher and traded for the most part in a $ 7.00 Dollar range all session long.(636.00-643.00). Even with the Crude Oil being very negative today theGold closed $6.00 + Dollars higher on the day closing at $639.10 due to a very weak U.S. Dollar.

The Gold community had it's eyes on the Middle-east and the threat of breaking of the truce.
Israel's army chief of staff Dan Halutz was quoted as saying " Israel could withdraw it's forces from southern Lebannon within 10 days, but only if the Lebanese army deploys quickly in the area ". Halutz added "If the Lebanese army does not move down within a number of days to the south... the way I see it, we must stop our withdrawal. "If the truce should be broken the Gold market should receive a surge of "safe haven " buying from all area's of the Gold trading sector.

The following are my guideline numbers for Thursday 8/17/06 for December Gold.....

resistance # 2 ..................................649.00
resistance # 1 ..................................644.00
pivot .................................................638.00
support # 1 ......................................633.00
support # 2 ......................................627.00


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in the market to determine direction
.

Fears of inflation

The trading session in the Tuesday Gold market was a very cautious trade which reacted to each piece of news and speculation during the daytime market.

Reports that Hezbollah had fired as many as 10 rockets on Israeli troops as they were pulling back had traders wondering if the cease-fire would last.

The U.S. PPI report was Dollar friendly and bearish for Gold.

Investors taking "safe haven " Gold profits and selling Crude Oil.

The speculation of inflation on the horizon I believe kept Gold from a bigger break.

I think the gold trading community is still buying 750-1000 strike calls in anticipation
of inflation and the speculation that the true between Israel and Hezbollah will not last.

The following are my guideline numbers for 8/16 in December Gold.......

resistance # 2 ................................. 642.00
resistance # 1 ................................. 637.50
pivot .............................................. 634.00
support # 1 ..................................... 630.00
support # 2 ..................................... 626,00



resistance = possible place to sell market
support = possible place to buy market
pivot = possible point in the market to show direction

Truce In the Middle-east ?

Mondays trading session began $ 3.00 - $ 400 lower on news that then cease-fire was in effect and the U.N truce was indeed a reality. Concerning the truce between Israel and Hezbollah troops many traders are taking a wait and see attitude. Most believing it will not last.

Other news speculated the flowing of Oil through the Alaskan pipeline once again which caused the Crude Oil to drop well under a $1.00 in price and helping to take the Gold market on a rollercoaster ride. Gold and Crude Oil for the most part are both "ANTI " Dollar and often lead and follow one another.

AlsoI believe profits were taken in the Crude Oil also pushing it lower.

The following are my guideline numbers for Tuesday 8/14/06 in December Gold........

resistance # 2.........................648.50
resistance # 1..........................643.80
pivot .........................................639.00
support # 1...............................634.20
support # 2...............................629.00



resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible position in the market to determine direction

Truce In the Middle-east ?

Mondays trading session began $ 3.00 - $ 400 lower on news that then cease-fire was in effect and the U.N truce was indeed a reality. Concerning the truce between Israel and Hezbollah troops many traders are taking a wait and see attitude. Most believing it will not last.

Other news speculated the flowing of Oil through the Alaskan pipeline once again which caused the Crude Oil to drop well under a $1.00 in price and helping to take the Gold market on a rollercoaster ride. Gold and Crude Oil for the most part are both "ANTI " Dollar and often lead and follow one another.

AlsoI believe profits were taken in the Crude Oil also pushing it lower.

The following are my guideline numbers for Tuesday 8/14/06 in December Gold........

resistance # 2.........................648.50
resistance # 1..........................643.80
pivot .........................................639.00
support # 1...............................634.20
support # 2...............................629.00



resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible position in the market to determine direction

Friday Profit Taking......

The Friday trading session in the Gold market had a trading range of $19.50 dollars.
The high of the day was 656.00 and the low was 644.00. The market was being driven by a better than expected Supply & Demand number (bullish for the Dollar /bearish for Gold) that I believe began a profit taking bear run.

News out of the Middle-east revealed the proposed cease-fire deal was not to the satisfaction of
Israeli Prime Minister Ehud Olmert. The Israeeli warplanes and artillery devastated Hezbollah
high ground rocket launching positions as well as a strategic bridge linking Lebannon with Syria.
Reorts state that the Israeli ground troops are closing in on Beirut.
This caused alot of concern for Crude Oil traders and drove the price of Crude down early causing the Gold to follow in a negative trend and forcing Gold traders to take profits.

The heavy option buying of 750-1000 strike calls continues.


The following are my guideline numbers for Monday 8/14/06....December Gold

resistance # 2..............665.00
resistance # 1..............654.50
pivot..............................645.50
support....# 1................635.00
support ...# 2................626.00


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible position in the market that may determine direction

Tough Trade....

The Thursday 8/10/06 Gold trading session started out calm enough and with the "rumor" of a possible cease-fire in Lebannon which caused the Crude Oil to fall over 200 points and take the Gold market from 663.00 (opening range) steadily downward to a low of 645.50 before settling at 646.20. Closing $16.00 lower for the day.

Also the foiled terror plot and the arrests of 21 people who planned to board and blow up passenger airplanes over the Atlantic Ocean caused already nervous traders to duck for cover.

The following are my guideline numbers for 8/11/06 December Gold.

resistance # 2...............671.50
resistance # 1................658.50
pivot...............................652.00
support # 1....................639.00
support# 2.....................632.50


resistance = possible place to sell market
support = possible place to buy market
pivot = position in market that may determine direction

Gold Rebounds.....

With the help of a weak Dollar and a bullish Oil market the Gold market reversed from a very negative overnight session and a low of 646.30 to a day session high of 666.50.
The market remains nervous with many regular Gold traders still on the sidelines.
Gold closed at 662.00 showing the traders it's bullish horns. Besides the turmoil in the Middle-east the traders will keep a close watch on the two key numbers coming out Thursday 8/10/06
@ 7:30 cst. 1. Jobless Claims 2.U.S. Trade Balance.........
I still see lots of option buying 750 - 1000 strike calls..... heavy open interest..... telling me the gold trading community is long term bullish......

The following is my guideline numbers forThursday 8/10/06 December Gold

resistance # 2.............678.00
resistance # 1.............669.00
pivot............................658.00
support # 1.................649.50
support #2..................638.00



resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot= position in the market that may determine direction

FOMC meeting sidelines traders.....

The FOMC meeting caused many traders to stay on the sidelines during Tuesdays trading session.Ttraders were unsure if the FOMC would raise interest rates. Along with the FOMC meeting the Gold trading community was keeping a sharp eye on the Israeli troops as they battled Hezbollah gerrillas across southern Lebannon. It appears the only way the Arabs will agree to a cease-fire is with the total withdraw of Israeli troops from Lebannon. Israel remains commited to the battle until Hezbollah is no longer a direct threat.

The following are my guideline numbers for 8/9/06 December Gold Futures

resistance #2...............665.30
resistance #1................661.30
pivot..............................656.80
support... #1.................652.80
support...# 2.................648.30

support = possible opportunity to buy market
resistance = possible opportunity to sell market
pivot = position in the market that may determine direction

Gold traders sit on sidelines...

Monday 8/7/06 Gold trading session showed a slight bullish rally early with the help of a very bullish Crude Oil market. With the aid of a production shut down in an Alaskan Oil field that accounts for 8 percent of U. S. Production. The crude Oil was 200 + points higher towards the end of the Gold session. The Gold and the Crude for the most part are "anti " Dollar.

After the United Nations cease fire resolution was rejected by both sides early Monday afternoon. The threat of Hezbollah sending rockets into Tel-Aviv and Israel responding with rockets into central Beirut has put many Gold traders on the sidelines. However the Gold trading community seems to be loading up on calls 800-1000 strike range. This tells me most people still believe the Gold market is long term bullish.

The following are my guideline numbers for December Gold 8/8/06

resistance #2............667.50
resistance #1............663.50
pivot..........................659.50
support # 1...............655.50
support #2................651.50



pivot = position in the market that may determine direction.
resistance = possible opportunities to sell market.
support = possible opportunities to buy market.

Friday profit taking

On Friday 8/4/06 the Gold market opened steady to a bit higher and after the unemployment number caused the Dollar to go negative the December Gold contract rallied $7.00 in 14 minutes
taking the market from $658.00 -$665.00. The maket rallied up to $666.00 before spending the rest of the session drifting lower before breaking them to the session lows on the close.
i believe that profit taking and traders unwilling to take any positions over the weekend.
With so much turmoil in the Middle east traders are very nervous about long term position taking these days. Who can blame them.
The following are my guideline numbers for Monday 8/4/06

resistance # 2 ................670.00
resistance # 1 .................663.00
pivot .................................659.00
support # 1 ......................652.00
support # 2 ......................648.00



pivot = position inthe market that may determine direction.....
resistance = possible opportunitiy to sell the market.....
support = possible opportunity to buy the market .......

Return of the Bear

Thursday 8/3/06 the Gold market opened at 664.00 and continued to drift lower the entire trading session. Many people in the Gold trading community feel that the "whip" volatility in the market is due to many components including Middle east fighting, possible damage that tropical storm "Chris"may cause, the hesitation to buy physical Gold due to wide market ranges. and the taking of profits from a very bullish first half of the week.
The following are my guideline numbers for Friday 8/4/06

2nd resistance................671.00
1st resistance..................663.50
pivot..................................657.00
1st support........................649.50
2nd support.......................643.00


resistance = possible opportunities to sell the market

support= possible opportunities to buy the market

pivot..... market above ...pivot works as a support level
market below... pivot works as a resistance level

Bullish trend continues

The Gold market Wed. 8/2 06 opened t and continued it,s bullish form from Tuesday.
The market rallied up to 668.20 causing experts to think the threat of tropical storm "Chris"and a weak Dollar were the catalyst to the upside move. Late session profit taking and a stronger Dollar pushed december Gold to a 664.00 settlement.


The following are my guideline numbers I use to get in and out of the market.
They are technical numbers ........Pivot = a pivotal area ..if markets above pivot pivot acts as a support....if markets are below pivot it act like a resistance area........

resistance = possible area in the market to sell
support = possilble area in the market to buy

2nd resist...........674.00
1st resist............669.00

pivot....................663.00

1st support..........657.80
2nd support.........652.00

The Bull is back....

Thanks to a weak U.S. Dollar and a steep dip in the Dow Jones the Gold market rallied $17.00 from it's early session lows to a high of $658.80. Not only is Gold the "anti" Dollar it is also considered a "safe haven" for investors during world troubles. The fact that the Middle east situation appears it will get worse before it gets better should help keep the market in a long term bullish trend. Below are my guide - line numbers for Wed. 8/2/06

2nd resist....................670.00
1sr resist.....................665.00

pivot.............................653.50

1st support...................647.70
2nd support..................636.50