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