Gold Down $2.90 Today........

Tuesday's gold trade started out higher trading up to 648.00 for the High. (my first resistance was 647.50) After the Non-Manufacturing Index was released at 9:00 (cst) it was viewed as very bullish and pushed the Dow Jones, Stock market, and the U.S Dollar Higher and causing the Gold to drop to 640.50. a late day rally rallied the Gold to a 643.30 close in December.
Today is the last we'll trade December starting tomorrow February will be the our lead month.
After the strong rally in the Dow many are calling it the Santa Claus Rally.(Stocks tend to try to impress at year end) I do not believe the physical Gold demand is close to ending and Santa Claus rally or not the Gold is really showing come-back ability. Considering the Crude was over 150 points lower at one time today the gold held support levels.

The following are my guideline numbers for February Gold.....Wednesday 12/06

resistance # 2............659.00
resistance # 1............654.00
pivot................649.00
support # 1...............644.00
support # 2...............639.00

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

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