Gold Tanks $12.00 On The Day................

Today's Gold market failed to hold technical support levels causing a top heavy profit taking frenzy. The U.S. Dollar was strong once again today which certainly didn't help the Bulls today.
the market traded in a real choppy manner and in a very wide range.
We are getting closer to the Holiday markets so be very careful and aware that the volume will thin out and that causes more gap trades and adds to the volatility.
HIGH----648.80
LOW---- 635.50
CLOSE---635.90...........$12.00 LOWER......

I'm sure the profit taking sell off triggered loads of STOP LOSS orders and liquidating
many long positions...

Guideline numbers for 12/07 Thursday...in February Gold...................................

resistance # 2.....................653.00
resistance # 1.....................644.50
pivot..................640.00
support # 1.........................631.00
support # 2........................627.00


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


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