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