Election Day Trade.........

Tuesday's Gold market was virtually unchanged today (20 cents LOWER) in another choppy trading session market claimed a $7.50 dollar range during the session with a High of.....631.20.......LOW.....623.70 .....before closing at 627.70. My first support level today was 624.00. It was another abandon the normal trend day...With the U.S Dollar 48 LOWER (Dollar Lower=Gold Higher) and the Crude Oil 90 plus lower both at the close of Gold(Crude Oil Lower= Gold lower usually) you would think Gold would have been Lower on the day. The Gold community split the difference and settled basically unchanged. I believe many seasoned traders decided to take to the Election Day side-lines and prepare for the Thursday reports all coming out at (7:30 CST)....EXPORT SALES....TRADE BALANCE....JOBLESS CLAIMS....CPI....

The following are my guideline numbers for Wednesday 11/08 for December Gold.............

resistance # 2..................................635.00
resistance # 1..................................631.00
pivot ........................627.50
support # 1......................................624.00
support # 2......................................620.00

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

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