Heavy Volume / Choppy Trade

The Gold market was very choppy most of the trading session seeming to look for direction.
The market opened higher due to a probable short covering rally. Later with the U.S. Dollar gaining strength and the very weak Crude Oil market the Gold drifted lower on the day settling
594.50. It certainly appears the Gold community is trading. Today the Chicago Board of Trade
reported record volume in the 100 oz. Gold contract (69,432 ). Keep an eye on the possible hot
potato in Syria. Today in broad daylight Islamic Militants attempted to storm the United States
Embassy in Damascus, Syria. Syrian Security Forces killed 3 Militants and defended the gates from outside the U.S. Embassy.

The following are my guideline numbers for 9/13 Wednesday for December Gold........

resistance # 2 ............................613.00
resistance # 1 ............................603.00
pivot ...........................................597.50
support # 1 ...............................588.00
support # 2 ...............................582.00




resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in the market to show direction



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Trade Smart, Mike