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