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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