Gold Closes Down $15.50 Today.................

Today's Gold session responded to a very strong U.S Dollar (GOOD Economic news) that was up 34 points at the Gold close. A strong Dollar forced the Gold down and taking out some key technical support levels and prompting liquidation of LONG positions. The past few weeks has felt very top heavy to me. When the market failed to drive through $700 on a couple of attempts the writing appeared to be on the3 wall. (WHEN IT CAN"T GO UP IT FALLS)...
Most Bulls I spoke to felt a correction break was an opportunity to get back in .
I think if your inclined to believe Gold is destined to go higher the price of BULL/CALL positions is becoming very attractive again !!! The market traded a $13.50 range today......
HIGH.........679.50 LOW........666.00 CLOSE.......667.00
REPORTS TOMORROW ....PPI.......RETAIL SALES......SUPPLY & DEMAND....7:30am. (CST)...
THESE NUMBERS COULD CAUSE ANOTHER WIDE RANGED TRADE !!!!!!!!!!
The following are my guide-line numbers for Friday...5/11...JUNE GOLD............
resistance #2...................684.00
resistance #1...................676.00
pivot...........................671.00
support # 1......................662.50
support # 2......................649.00

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