Gold Closes Over $ 611.00...............

Todays Gold trading session was a true waffle market that closed very strong.
The market rallied despite a stronger U.S. Dollar.The gold and the Crude oil seemed to mirror each other most of the day. Crude Oil went from being over 100pts.higher to lower on the day to 70+ pts. higher at the gold close.The gold had a very nice range as well.(High...612.40........Low.....604.00.....closing at 611.50)
I believe the Gold and Crude Oil both reacted strongly to the Iran / European Union
break down of their negotiations.Iran's President Ahmadinejad was quoted as saying "We will never give up nuclear enrichment". I believe the European Union thought they were close to a deal. I guess negotiations will continue.

The following are my guideline numbers for 9/29 Friday for December gold .........

resistance # 2.................617.00
resistance # 1 ................614.00
pivot...................609.00
support # 1 ...................605.50
support # 2 ...................601.00

resistance = point to possibly sell market
support = point to possibly buy markey
pivot = possible point to determine direction


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