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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