Running Of The Bulls............

Today's Gold market was fueled by BULLISH news from start to finish. For most of the day the Gold and Crude Oil traded in opposite directions and the U.S. Dollar was positive most of the session normally would have pushed the Gold LOWER. However the Gold community has chose to ignore the normal trends and follow the U.S. economic reports (reports have shown the economy is slowing = BULLISH for Gold), the huge demand for physical Gold, and most recently ...Mid-east tensionl (Hezbollah: has threatened street protests if the Lebanese government rejects a National Unity Cabinet that gives them veto power over key decisions.
The Israel's launching a full scale attack against Palestinian Militants in the Gaza Strip.) causing more tension in an already brittle atmosphere. Mid-east conflict is always BULLISH for Gold.
The December contract did hold $620.00 on the upside.......The 620.00 level is considered a very STRONG resistance level. We'll see what tomorrow brings !

HIGH........619.80 LOW.......607.50 CLOSE.......619.30

Thursday's Key Reports......
EXPORT SALES....7:30 am (cst)
JOBLESS CLAIMS 7:30 am(cst)

The following are my guideline numbers for 11/02 Thursday for December Gold............

resistance # 2...............................628.00
resistance # 1...............................624.00
pivot .....................615.50
support # 1...................................611.00
support # 2...................................603.00


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


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