Gold Closes 596.30

The day session in December Gold traded in a $8.00 range . The market held 599.50 several times (my sell point for today 599.50 ) and was the high of the day. I think traders tried to get a 600.00 print in December resistance was strong. The U.S Dollar was strong and the Crude Oil was also higher most of the session. I believe the Gold trading community believes their is inflation brewing and is not reacting to the over supported Dollar. Normally if the Dollar is up over 50 pts. Like it was at one point today the Gold should be much lower. Next Monday starts the fourth quarter and the history of Gold in the fourth quarter is normally bullish.

high.......599.50 my....... 1st resistance............599.50
low ........591.60
close .....596.30

The following are my guideline numbers 9/27 for Wednesday in December Gold..........

resistance # 2.............................604.00
resistance # 1 ............................600.50
pivot ......................................................596.00
support # 1 ................................592.50
supprrt # 2.................................588.00

resistance = point in market to sell
support = point in market to buy
pivot = point in market to determine direction


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