Another Late Session Rally............

Today's Gold trade had another wide choppy range. My belief is that the early drop in the Gold market (traded down to 629.20) was a continuation of FUNDS taking profits due to an early Crude Oil down trend. The gold and the Crude both made drastic rally RUN-UPS late in the day. The Gold rallied from $629.20 to Close $1.10 Higher on the day at $637.00.
I believe FUNDS have been long since 595.00 and simply pulled the profit trigger when the Gold market began to lose ground and trading below technical support levels.
Since we are getting ever closer to a less-volume/more volatility Holiday Markets smart traders took profits. Gold traded in a $8.30 range.........
HIGH..................637.50
LOW...................629.20
CLOSE................637.00.......................$1.10 HIGHER on the day.....

My guideline numbers for Friday 12/08....for February Gold.........

resistance # 2...............642.00
resistance #1................640.00
pivot ................634.50
support # 1..................631.50
support # 2..................626.50


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