Strong U.S. Dollar Keeps Pressure On The Gold.....

Friday's Gold market reacted to a strong U.S. Dollar and better than expected unemployment
rate and sent the Gold $19.10 LOWER on the day. It started out innocent enough until technical support levels failed and that started a selling avalanche. At one point February Gold was trading at $603.00 today. I believe the gold had been in an over-bought mode and without momentum. The Funds started selling earlier this week and started the Bear trend moving.
I think the Bulls will have their day sooner than later with reports from ABC NEWS stating"North Korea is preparing for another Nuclear test ". Also the U.S Housing slump is a reality, The Holiday retail season is over, and last but not least OPEC is cutting production February 1st. But for now Gold is trading at $612.50. Huge range today..$24.90........
HIGH..........627.90 LOW.....603.00 CLOSE....607.70 (NOT FOR THE FAINT OF HEART)

The following are my guideline numbers for Monday 1/8 for February Gold........

resistance # 2...........................637.00
resistance # 1...........................622.00
pivot .........612.50
support # 1...........................597.50
support # 2...........................587.50

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

TO OPEN AN ACCOUNT............888-282-2770
TRADE SMART......

Thanks Walter & Pina CFRA 580......