Gold Closes Down $1.00 Today.............

Tuesday's Gold trade was choppy trade that stayed between my pivot and 1st resistance
points all day long. The U.S. Dollar was stronger today than most expected (9 pts. Higher @ Gold close) due to a very Bearish Crude oil market. The Crude was 200+ pts. Lower at the
Gold close. OPEC had canceled an emergency meeting to stop the Crude oil market downward slide when reports suggested that IRAN and VENEZUELA were not only not complying with OPEC's prior production CUT.....They were actually increasing production....(OPEC internal
disputes). This caused Saudi Arabia and others to call off the meeting.(Crude oil trade under
$51.00 per barrel today). Lower Crude usually means Lower Gold (both are anti-$)such as the
case today. The Gold community traded a $5.80 range today.........................................
HIGH............629.00 LOW......623.20 CLOSE........625.80..............

The following are my guideline numbers for Wednesday 1/17...February Gold

resistance # 2................................632.00
resistance # 1................................629.00
pivot .........................626.00
support # 1................................623.00
support # 2................................620.00

SWING TRADE..............
RESISTANCE = POSSIBLE POINT TO SELL
SUPPORT = POSSIBLE POINT TO BUY
PIVOT = POSSIBLE POINT TO DETERMINE DIRECTION

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