Wednesday, August 02, 2006

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

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