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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