Tuesday, May 08, 2007

Gold Closes Down $ 3.00 Today........

Today's Gold trade was quiet in anticipation of the FOMC meeting tomorrow.
The session traded within a $4.80 range and within my technical numbers.
The Gold traded off the strong U.S. Dollar today...(up 29 pts. at Gold close) causing the Gold to sell-off (some profit taking) and await news (if any) from the FOMC meeting.
HIGH.....689.00 LOW.........684.20 CLOSE.........687.40
WEDNESDAY....9:00 am. (CST.) FOMC MEETING..............
Guide-line numbers for Wednesday 5/9.......June Gold....................
resistance # 2...................692.00
resistance # 1...................690.00
pivot......................687.00
support # 1...................... 685.00
support # 2.......................682.00

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