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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