Gold Closes $11.50 LOWER Today........

Today's April Gold market opened at $669.80 AFTER the overnight market had traded as High as $677.80 during the session. Much of the over night movement was do to tensions between Iran and the United States over nuclear arms. ABC NEWS REPORTED..Iran saying " Our Nuke Program Stops When Yours Does "...... This caused an initial rally into a Avalanche of technical selling and seeking stop/loss and broke the market down below 666.00 (a significant 2 week technical support level) causing another sell-off down to 659.00..... All traders will tell you when markets find difficulty in breaking through Support/Resistance levels (APRIL 680.00 Resistance) it's a sign the market may be over bought...and needs a retracement !!!!!!
The BEARS ( used the technical points to drive the market lower) while the BULLS looked at it as a great buying opportunity !!!! Just depends on who you talk to....It does appear things are heating up between Iran /United States.....Also Secretary of State Condoleezza Rice is in Jordan trying to convince Palestinian President Mahmoud Abbas that his relationship with Hamas is detrimental to the United States and Israeli policies in the region............
HUGE DAY SESSION RANGE.....HIGH....670.70 LOW...659.00 CLOSE..661.00
CPI (CONSUMER PRICE INDEX) WEDNESDAY..7:30 am. (CST)..........
The following are my guideline numbers for 2/21 WEDNESDAY..APRIL GOLD......

RESISTANCE #2...............................675.00
RESISTANCE #1...............................668.00
PIVOT..........663.50
SUPPORT # 1.....................................656.50
SUPPORT # 2.....................................651.00

RESISTANCE = POINT TO SELL
SUPPORT = POINT TO BUY
PIVOT = POINT TO DETERMINE DIRECTION

TRADE SMART ..........