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