Gold Reacts To Strong Dollar.......

Thursday's Gold trade was choppy to say the least. The early CPI (consumer price index) was down 5%. This caused the Gold to open and rally Higher up to $629.50 for the HIGH of the the session. The Crude Oil was sharply lower today boosting the U.S Dollar up 20 pts. At the gold close. The Bulls are buying the dips and with option expiration on the horizon and a Holiday shortened next week it should remain a choppy trade. The Gold market has really had some wide trading ranges and today it had another $8.50 pt. Range ($850 dollars top-bottom)
today's HIGH......629.50 (MY 1st resistance = 628.00)
LOW.......621.10
CLOSE...621.50

The following are my guideline numbers for Friday 11/17 for December Gold.......

resistance # 2..................632.00
resistance # 1..................627.00
pivot .................624.00
support # 1......................618.50
support # 2......................615.50

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

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