Gold Seeking Trading Range..................

Monday's Gold trading session provided a very choppy market that was seeking direction.
Even with a very strong Crude Oil market (up 100+ pts. At the Gold close) the Gold couldn't hold it's gains. (HIGH 632.200 ) CLOSING AT 627.60.. ( $1.60 LOWER ON THE DAY)
It seemed the Gold was trading off the U.S. Dollar today. (DOLLAR AND GOLD SHOULD BE TRADING IN OPPOSITE DIRECTIONS) . When the Dollar rallied today the Gold traded lower.
Their is a lot of bullish news for Gold in the news and with tomorrows Elections and Thursday's very key slate of reports .....Export Sales (7:30 cst.) ........
Jobless Claims (7:30 cst.) ..............
Supply/Demand (7:30 cst.) ...............
U.S. Trade Balance (7:30 cst.)..................
I believe the Gold trading community is waiting on the side-lines awaiting the Election results.
The results will certainly affect the direction in the Middle-east. Take a look at the February Gold ( BULL CALL SPREADS ) seems to be lots of new volume !!!!

The following are my guideline numbers for Tuesday 11/06 for December Gold.......

resistance # 2........................636.00
resistance # 1........................631.50
pivot ........................628.00
support # 1...........................624.00
support # 2...........................620.00

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


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