Gold Closes $1.00 Lower Today.........

After yesterday's HUGE rally the Gold market traded within a $6.00 range that was very choppy and hard to get a grasp on!! Despite another big up day for the Crude oil (up 60 pts. + at the Gold close)the Gold had a very difficult time trying to rally. Many traders thought the Gold would have a rally follow up today and attempt to push the market closer to $700.00 per ounce.
I believe when the market encountered early selling pressure some traders took profits.
Compared to yesterday Thursday's session was timid. Total trading range today was $6.00..
HIGH...684.70 LOW...678.70 CLOSE...683.00.........
FRIDAY..EXPORT SALES 7:30 am. cst.

The following are my guideline numbers for Friday 8/23....APRIL GOLD...............

resistance # 2..................................688.00
resistance # 1..................................685.00
pivot .........................682.00
support # 1....................................679.00
support # 2....................................676.00

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

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