Friday, May 04, 2007

Gold Closes Up $5.30 Today............................

Once again the Gold market ignored the CHOPPY and 120 + LOWER Crude Oil market and used tfe weak U.S Dollar to gain $5.30 today. Increased World demand and renewed interst in long term option volume certainly added to the Bullish perspective.The U.S . Dollar was 20 + points Lower at the Gold close. A $8.40 point range today.....
HIGH..........693.00 LOW........685.60 CLOSE.......689.70
The following are my guide-line numbers for Monday..5/7....June Gold......
resistance #2.........................698.00
resistance #1.........................693.50
pivot............689.50
support #1.............................686.00
support #2.............................682.00

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