Wednesday, September 13, 2006

Traders Cautious Before Thursday Morning Numbers...

Trading in the Wednesday Gold market was cattious in anticipation to the various report numbers coming out Thursday 7:30 (cst)...Jobless claims, Export sales, and Retail sales ...etc.....
The seemed to follow the positive Crude Oil and responded to the weaker Dollar and closed a few bucks higher on the session.

I believe the Gold traders traded the range today and not loading up on either side until the numbers reveal themselves tomorrow.

The following are my guideline numbers for 9/14 Thursday in December Gold................

resistance # 2.................................609.00
resistance # 1.................................602.50
pivot ...............................................594.00
support # 1 .....................................587.50
support # 2 ....................................579.00

resistance = possible point to sell market
support = possible point to buy market
pivot = possible point of direction in market


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