Looking For Direction.....................

The Tuesday Gold trade was very choppy and in search of a direction early in the session trading between 583.00 & 576.00 looking for support. About mid- morning the Gold got up a head of steam with the U.S. Dollar going from 8672 (24 pts. Higher) down to 8635 (15 pts. Lower) & the very bullish Crude Oil rally help drive the Gold $ 4.70 Higher for the day.
My first support level was 578.00 it held well several times (576.00 LOW of day) showing me the market was trading technically today. Take a good look at the 700 - 1000 (STRIKE CALLS)
for November Gold. Looks like interest to me. (maybe the big guys are counting on a "Santa Claus Rally")........... Look for FOMC to do nothing tomorrow !

HIGH.................589.00
LOW .................576.00
CLOSE .............587.70 ..............................ANOTHER NICE RANGE

The following are my guideline numbers for Wednesday 10/25 December Gold

Resistance # 2.................................................597.00
Resistance # 1.................................................592.00
Pivot .................................584.00
Support # 1 .....................................................579.00
Support # 2 .....................................................571.00

Resistance = possible point to sell
Support = possible point to buy
Pivot = possible point to determine direction

TO OPEN AN ACCOUNT CALL 1-800-282-2770------email mdaly@manducatrading.com

TRADE SMART **********