Monday, November 27, 2006

Dollar Loses More Ground...............

Today's Bullish Gold trade was fueled by another Bearish trade in the U.S dollar(down 17 pts. 8342) at the gold close. Having another strong up day in the Crude Oil, physical Gold demand, and of course the ever present tension in the Middle-east also played a huge role in December Gold closing at $640.60 for the day. Be aware the choppy trade will continue til the New Year.
The following are my guideline numbers for Tuesday 11/28 in December Gold.

resistance # 2.....................................................645.00
resistance # 1.....................................................643.00
pivot ........................640.00
support # 1.....................................................638.00
support # 2.....................................................635.00

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



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