Friday's Gold Market Closes Up $8.10....................

What started out to be a very quiet and tight ranged market ended up to be a rally of $8.10 on the day. The market traded between 628.20 & 632.00 most of the morning before getting help from a U.S Dollar that had gone from 20 + pts. HIGHER to actually being LOWER (as of Gold close) on the day. It also helped having the Crude oil rebound today (100 pts. + HIGHER at the Gold close)Monday is February Expiration in Crude oil ....may have started the ball rolling ....The Gold traders seem to have developed a system that works (TAKE PROFITS AND BUY DIPS)..because nobody seems to be holding positions like we used to.
With all that's going on in the World (GEO-political) .....CAN'T BLAME THEM......
HIGH....637.00 LOW...628.20 CLOSE....636.00
The following are my guideline numbers for Monday 1 /21...February Gold..................

resistance # 2..........................643.00
resistance # 1..........................640.00
pivot ..................634.00
support # 1..........................631.00
support # 2..........................625.00

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

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