Gold Closes Up $5.40 On The Day.........

The Gold market traded with much more reason today.
After holding SUPPORT levels early the Gold crashed through all resistance levels and traded
$665.30 for the HIGH of the day before selling off the last thirty -five minutes of the day to Close at $662.70. Standing apart from the Crude oil (CRAZY) swings the Gold used technical
retracement to take out the $660.00 level it had so much difficulty with yesterday.
A little help from increased middle-east tension didn't hurt the BULL camp either.....
In the first major sign that a security crackdown was under way ABC NEWS reported
"Iraqi Deputy Health Minister Arrested" reported to be a senior member of a
radical Shi ite political group. Huge Gold CAll Option buying mid-session also fueled
the BULL. Tomorrows FRIDAY(remember last Friday...YIKES) and Supply & Demand
reports released 7:30 am (cst.) SO be careful....Bull / Call spreads should be looked at !!!
Nice range today $12.80....HIGH...665.00 LOW..653.50 CLOSE...662.70...........
The following are my guideline numbers for FRIDAY 2/9 April Gold............


resistance # 2...............673.50
resistance # 1...............667.50

PSYCHOLOGICAL NUMBER *****670.00*****
pivot.....660.50
..
support # 1.................655.50
support # 2.................647.50

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

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