Gold Rallies $2.40 On Monday...........

Monday's gold trade was tame compared to Friday's huge sell-off. Many traders stayed on the sidelines fearing another volatile session. Traders still Bullish Gold found today to be a good opportunity to re-enter the market. The U.S. Dollar was higher earlier but was unchanged at the Gold close. Many Geo-political scenario's are brewing world-wide and most are Bullish for Gold.
Reports of Nigerian terror groups promising more "ruthless" attacks on U.s and European oil facilities in Nigeria, North Korea possibly preparing for another nuclear test, and reports out of London that Israel and Iranian tension is escalating.The U.S Trade Balance Report comes out Wednesday (7:30 cst.) that also could be a market mover.
HIGH...611.10 LOW...605.00 CLOSE...609.30..............................

The following are my guideline numbers for Tuesday 1/9 for February Gold........

resistance # 2..........614.50
resistance # 1..........612.oo
pivot..............608.50
support # 1..........606.00
support # 2..........602.50

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

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