Monday, April 30, 2007

Today's Gold Session Closes $1.70 Higher............

Today's trading session was CHOPPY with a small trading range. The Gold market got help from a weaker U.S dollar (11 LOWER at the Gold close) and a late session Crude Oil rally.
This Gold market feels very tentative to me. I would recommend checking out some option strategy's / spreads over naked futures positions at this point. ..........
REPORTS : MANUFACTURING INDEX.....9:00.am. (CST)...................Tuesday 5/1
High.......684.20 Low...............680.00 Close......683.50..................
The following are my guide-line numbers ....5/1.....June Gold.......
resistance # 2...........686.50
resistance # 1...........685.00
pivot..........682.50
support # 1........... 682.50
support # 2................681.00

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Friday, April 27, 2007

Gold Closes Up $3.80 Today.............

Today's Gold session traded in a CHOPPY and tight trading range. the markeT closed above $680.00 and appeared to follow the Crude Oil and the report of 172 terrorists captured with the intent to destroy Saudi Arabian Oil fields. Many traders are nervous at these levels and on the side-lines. If or when Gold trades over $700.00 I believe it will bring in skeptical and the safe haven money back to the market. it has failed several times recently to BREAK $700.00.
I've noticed Option prices BULL CALL are coming down in price and may lure long term traders back. Crude Oil up (100 + points at Gold close) and a weak U.S. Dollar is the prime reason for Gold HIGHER today. (UP $3.80)
HIGH...........682.00 LOW............677.80 CLOSE...........681.80
The following are my guide-line numbers for Monday 4/30...June Gold
resistance # 2...................685.00
resistance # 1...................683.50
pivot........................680.50
support # 1.......................679.00
support # 2.......................675.00

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Thursday, April 26, 2007

The Gold Market Closed $9.40 Lower Today.....

Today's session was a technical sell-off . Many traders looking to liquidate long positions due to the reluctance of the market to trade through $700.00. the re-tracement down to 674.50 today helped by a Strong U.S. Dollar (UP 30+ at the Gold close) will quickly remind investors of the $70.00 Dollar sell-off just 2 months ago in the Gold. I believe the mentality of the Floor Trader
will be to pick technical points and trade hedged positions. The price of BULL CALL spreads at the 700 strike are getting pretty tempting.$9.00 + range today.
HIGH..........684.20 LOW....674.50 CLOSE.......678.00...................
Tomorrows Reports...........GDP 7:30 am. (cst).....................
As I said earlier in the week trading over $700.00 will take lots of help !
Tomorrows guide-line numbers..........................June Gold 4/27
resistance # 2............694.00
resistance # 1............683.50
pivot.............679.00
support # 1.................674.00
support # 2.................669.00

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Wednesday, April 25, 2007

Today's Gold Market Closed 30 Cents Lower ........

Today's Gold trade was very CHOPPY and despite economic numbers suggesting higher prices the Gold community seemed to be nervous and searching for direction. The market traded in a $ 7.50 range today but couldn't hold early gains. I believe many BULLS are fearing another top heavy market(LIKE 2 MONTHS AGO...70.00 DOLLAR LAND SLIDE) and are not adding to long position and instead are taking early profits. Geo-political news from the Middle-east (U.S .and other World Powers may allow Iran to keep some of it's uranium instead of total dismantling...reports ABC NEWS International) may be taking SAFE-HAVEN Money out of Gold and back into the Stock Market.
HIGH...........690.00 LOW.............682.20 CLOSE............687.60.........
REPORTS.......EXPORT SALES & JOBLESS CLAIMS............7:30 am. (CST)
Tomorrows guide-line numbers...JUNE GOLD...4/26.........THURSDAY...............
resistance # 2...........................695.00
resistance # 1...........................691.00
pivot.....................686.50
support # 1...............................683.00
support # 2...............................678.00

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Tuesday, April 24, 2007

Gold Closes $6.50 LOWER Today..............

Today's Day session was very Choppy and reacted to a BEARISH Crude Oil trade today.
It seemed to disregard the weak U.S. Dollar and follow the Crude oil Down. (Crude 100+ points Lower at the Gold close)....Indicators as of late seem to show the U.S. economy is slowing....
This should be Bullish for Gold....However the RESISTANCE up at the $700+ LEVEL is certainly substantial............The $70.00 SELL-OFF from $699.00 is still fresh in every ones mind. (especially Gold Traders)...Tomorrow's Reports :ADVANCED DURABLE GOODS..7:30 am. (CST.) and NEW HOME SALES..9.00 AM. (cst.)....................................................
HIGH.........697.50 LOW.....684.30 CLOSE....687.50.....................
THE FOLLOWING ARE MY GUIDE-LINE NUMBERS FOR Wednesday..4/25...June Gold..........resistance # 2......................700.00
resistance # 1......................693.50
pivot........................689.00
support # 1..........................682.50
support # 2..........................678.00

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Monday, April 23, 2007

Gold Closes 1.60 Lower Today...................

Today's day session was very CHOPPY and with a small trading range.Despite a very BULLISH Crude Oil market (UP 120 + points at the Gold close) the Gold was very tentative and seemed to react to the STRONG U. S. Dollar today. I believe the traders may have took small profits and stand on the side-lines in anticipation of tomorrow's CONSUMER CONFIDENCE REPORT..due out at 9:00 am. (CST.). In fact the whole entire week will produce some Gold / Dollar moving news worthy reports. Just a $6.30 range.....HIGH..696.80 LOW..690.50 CLOSE..694.20.....
The following are my guide -line numbers for 4/24 TUESDAY........JUNE GOLD....
resistance # 2..................................700.00
resistance # 1..................................697.50
pivot................................................694.00
support # 1....................................691.00
support # 2...................................688.00
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Friday, April 20, 2007

Gold Closes $7.80 HIGHER Today....................

Friday's Gold market RALLIED $7.80 Higher today with help from a weaker U.S. Dollar and a very BULLISH Crude Oil market (up 100 + points at Gold close). it sure looked like they'd run it up to $700.00 today (just to test the waters) but the market found strong resistance.
As I said yesterday it will take a mighty push (Geo-political, economic. or Fund buying to drive the Gold past the $700.00 psychological level . Small range today ($4.00)..........
HIGH......698.00 LOW....694.00 CLOSE....695.80.............
The following are my guide-line numbers for MONDAY 4/23 ...June Gold.............
resistance # 2.................700.00
resistance # 1..................698.00
pivot...............696.00
support # 1.....................694.00
support # 2.....................692.00

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Thursday, April 19, 2007

Gold Closes $5.00 LOWER Today..................

The Gold trade today was BEARISH from the start. It appears the Gold is reacting off the LOWER Crude Oil trade lately. In fact even with a Down U.S.Dollar Gold traded in accordance with the (100= pts. LOWER at Gold close) Crude Oil. Lets remember 7+ weeks ago the Gold took a $70.00 Dollar tumble and many traders are not willing to hold positions at this level. In fact since we've been trading over $680.00 it appears to me that we are going to need a big push in order to trade over $700.00. (LOTS OF RESISTANCE and HESITATION)
HIGH.....691.00 LOW.....682.50 CLOSE.....688.30................
The following are my guide-line numbers for 4/20 Friday...................June Gold
resistance # 2.............697.00
resistance # 1.............691.50
pivot................687.00
support # 1.................683.50
support # 2.................678.00

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Wednesday, April 18, 2007

Today's Gold Market Closed Up .60 CENTS TODAY...

The Gold trade today was a very tentative and CHOPPY market. it traded in a very tight and smaller than usual range today.($5.10 range)........This is probably due to the economic reports coming out at 7:30 am. (CST) tomorrow(THURSDAY).....EXPORT SALES......JOBLESS CLAIMS..........I think many traders are leery to have any positions over-night (especially with the memory of the $70.00 BREAK 7 weeks ago fresh in every bodies mind).
At present the Crude Oil / Price of Gasoline is at the center of the public attention.....
However, if or when Gold trades over $700.00 per troy oz. it will get world-wide attention and interest again (GOLD FEVER) ........The public really got caught in the last sell-off.......and in my opinion are still licking their wounds. There are some good strategies for this .LOW of the day was my support level today...GO CHECK !!!!......
HIGH.....695.30 LOW....690.20 CLOSE...693.10
The following are my guide-line numbers for 4/19 THURSDAY.....JUNE GOLD........
resistance # 2..................698.00
resistance # 1..................696.00
pivot....................693.00
support # 1......................691.00
support # 2......................688.00....................

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Tuesday, April 17, 2007

Gold Closes Down $2.10 Today...................

Today's trade was very quiet and UN-eventful. The Gold market could not hold the up-side early and in my opinion took profits from yesterday. I believe traders got nervous watching the Crude Oil trade much lower today.(JUNE CRUDE).....Every trader remembers the last time we were pushing to trade over $700.00...(BROKE $70.00 in an over-bought sell-off frenzy).......
There will be strong resistance up there ($700) again and it will take LOT'S of help from a weak U.S. Dollar to drive through the 700.00 LEVEL......Only a $3.70 range today .............
HIGH........695.50 LOW......691.80 CLOSE......692.50.......................
The following are my guide-line numbers for Wednesday...4/18......JUNE GOLD..................
resistance # 2..................................697.00
resistance # 1..................................694.50
pivot......................693.00
support # 1......................................690.50
support # 2......................................689.00

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Monday, April 16, 2007

Gold Closes Up $4.60 Today.........................

Today's trading session was very CHOPPY and seemed to seek news for direction.
Early in the session the Gold was following a very weak Crude Oil market..(100 pts. LOWER at the Gold close) and ignored the weak U. S. Dollar.. From Mid-session on the gold seemed to react to reports from the FED.."U.S. fiscal Deficit" ....(TRADERS MAY BE THINKING IMPENDING RECESSION).....and took the Gold market $4.60 HIGHER on the day.
Last time we were trading up at these levels you Gold traders will recall we BROKE $70.00..
HIGH......695.00 LOW..... 687.70 CLOSE.....694.50 (my pivot today =687.50)........
Tuesday's reports...CPI...7:30 am. (CST)......HOUSING STARTS...7:30 am. (CST)...........
Any more bad news for the Dollar and Gold will BLOW THROUGH $700.00.........................
The following are my guide-line numbers for 4/17 TUESDAY........JUNE GOLD...............

resistance # 2........................................700.00
resistance # 1........................................697.00
PIVOT..................692.50
support # 1............................................ 690.00
support # 2..............................................685.50

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Friday, April 13, 2007

Gold Closes $10.20 HIGHER Today......................

Today's Gold market rallied off the PPI Report (Inflationary) and continued to gain ground(with the exception of a mid-session profit take sell-off) the second half of the trade. despite a weaker Crude Oil market(DOWN 12 = pts. at Gold close) the Gold cleared out many technical resistance levels today. The Gold also got help from a weak U.S. Dollar...(DOWN 13 pts. at Gold close).
A $7.90 pt. range today....HIGH....690.50 LOW...682.50 CLOSE..689.90..............
Monday..7:30am. (CST) RETAIL SALES........
The following are my guide-line numbers for Monday April 16....JUNE GOLD
resistance.............................695.50
resistance.............................692.50
pivot...................687.50
support.................................684.50
support.................................679.00

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Thursday, April 12, 2007

Gold Closes $1.80 Lower Today..........

Today's gold trade was CHOPPY and despite a strong Crude oil market (up 90 pts. = ) and a weak U.S. Dollar Gold could not close positive today. I believe many traders are concerned with the economic reports to be released tomorrow (Friday 4/13)............PPI ...7:30 am. (CST)...
TRADE BALANCE...7:30 am. (CST)......Both are important to the U.S. Dollar............
HIGH...683.30 LOW...675.50 CLOSE...679.90.....$7.80 range.............................................
The following are my guide-line numbers in June Gold 4/13...(FRIDAY)
resistance # 2..............688.00
resistance # 1..............683.50
pivot....679.50
support # 1.................676.00
support # 2.................671.00

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Wednesday, April 11, 2007

Gold Closes Up 30 Cents On The Day..............

The Gold market was very tentative today and traded in a $6.80 CHOPPY range.
This was due to TRADERS STAYING ON THE SIDE-LINES pending three report numbers to
released tomorrow (Thursday)..EXPORT SALES (7:30 am. CST.) JOBLESS CLAIMS (7:30 am CST.) and EIA GAS STORAGE (9:30 am. CST) all could effect the Gold,U.S. Dollar, and Crude Oil markets. The gold traded in a $6.80 point range today............
HIGH.....685.80 LOW.....679.00 CLOSE.....681.80............
My guide-line numbers for Thursday 4/12 in JUNE Gold..............
resistance # 2........................689.00
resistance # 1........................685.00
pivot.......................682.00
support # 1..........................678.50
support # 2..........................675.00

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Tuesday, April 10, 2007

june Gold Close Up $4.60 Today.........................

Today's Gold trade was very BULLISH due to a weak U.S Dollar (40 =pts. LOWER at Gold close) and a STRONG Crude Oil market (UP 60 = pts. at Gold close). The news on the Geo-political venue is being closely watched. # 1. Iran announced it was increasing it's enrichment of uranium.....# 2. North Korea has been told "time is running out for a deal".............
Wide range $ 11.00..........HIGH...686.80 LOW...675.80 CLOSE...682.20
Guide-line numbers for June Gold 4/11...Wednesday.......
resistance # 2...............690.00
resistance # 1................687.00
pivot.....681.50
support.......# 1..............676.00
support #...# 2...............671.00

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Monday, April 09, 2007

Gold Closes Down $2.50 Today................

Monday's Gold market closed Lower after trading on the positive side most of the session.
A strong er U. S . Dollar and a very weak Crude Oil market dragged the Gold market down for the trading session. A $7.20 point range today that was CHOPPY and seeking direction.
Keep an eye on the Middle -east (Iran has nuclear news to report this week ) this week.
REPORTS : SUPPLY & DEMAND 4/10 7:30 am. (CST).................
HIGH...683.00 LOW...675.80 CLOSE.......676.90...........................
My guide-line numbers...............
resistance # 2.........................685.50
resistance # 1.........................681.50
pivot.................678.50
support....................................674.00
support....................................671.50

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Thursday, April 05, 2007

Gold Close $1.90 Higher Today.................

Today's Gold session was THIN /CHOPPY in anticipation of the Good Friday Holiday. (GOLD IS CLOSED).....Very Holiday-Like market...Small range$4.20 all -day...
HIGH... 681.00 LOW...676.80 CLOSE....679.30............................
British Military captives are FREE and back in Britain.....U.S Dollar ..LOWER...Crude Oil down 20 pts. plus at the Gold close.........Long weekend very few taking positions over the Holiday....
Mt guide-line numbers for MONDAY 4/9 JUNE GOLD...................
resistance # 2.......................683.00
resistance # 1...................... 681.00
pivot.........679.00
support # 1...........................677.00
support # 2...........................675.00

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Wednesday, April 04, 2007

Gold Closes $7.80 Higher Today .......................

Today's Gold market was a true BULL from start to finish ! Despite a weak Crude Oil trade today(down 20 + pts. at the Gold close) the Gold market was very strong all day. Maybe due to a lower U.S. Dollar (Down 20 pts.) and the influx of new money in the market. Once again we are creeping up around the $700.00 LEVEL (GOLD FEVER & FEAR OF MISSING THE BIG UP MOVE ?)....Iran released the British captives today.... Huge range today $ 10.20......
HIGH.....681.00 LOW....670.80 CLOSE...677.50............UP...$7.80
The following are my guide-line numbers for 4/5 Thursday...June Gold..........
resistance # 2...............................686.00
resistance # 1...............................681.00
pivot........676.00
support # 1...................................671.00
support # 2...................................666.00

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Tuesday, April 03, 2007

Gold Closes $1.80 Lower Today ......................

Gold traded in a CHOPPY $5.50 range Tuesday. the market was Higher most of the session and reacted to the BEARISH Crude Oil market late in the trading session to close $ 1,80 LOWER on the day.It appears the British and Iranian tensions are LIGHTER through communication.
Any sign of a peaceful end will push the Crude Oil Lower...Heightened conflict will drive it HIGHER....and for the most part Gold and Crude Oil trade together..(BOTH ANTI DOLLAR)...
Many traders took profits in both markets (in my opinion) when news broke they were both seeking to end this conflict and negotiating to achieve that....If recent History doesn't remind you to take PROFITS (TAKE THE MONEY)...nothing will !!!!!
HIGH....673.20 LOW....667.70 CLOSE....669.70.........
My guide-line numbers for 4/5...Wednesday....June Gold

resistance # 2.................................675.50
resistance # 1.................................672.00
pivot.........................670.00
support # 1.....................................667.00
support # 2.....................................664.50

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Monday, April 02, 2007

Gold Closes $2.50 Higher................

The Gold market was LOWER most of the day, but a late session rally helped push the Gold over 671.00 today. This week is a Holiday market ...Passover begins today and Friday is Good Friday before the Easter weekend. Friday the Gold market will be closed. This week should be CHOPPY with the volume decreasing as the Friday Holiday gets closer.(HUGE VACATION PERIOD /SPRING BREAK).The Gold seemed to rally and follow the very CHOPPY and Middle-east watching Crude Oil market. Crude rallied a $1.00 (per bar.) and pulled the direction seeking Gold market with it. Big range in Gold today...($10.00)..........
HIGH.....671.70 LOW....661.70 CLOSE....671.50 .........................
My guide-line numbers for Tuesday 4/3 in JUNE GOLD..............

resistance # 2...........678.50
resistance # 1...........675.00
pivot............668.50
support.....# 1...........665.50
support.....# 2..........658.50

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