Tuesday, June 05, 2007

Gold Closes $1.20 Lower Today............

Today's trade was kind of on the thin and certainly choppy side.
The market traded between my support and resistance levels today.
I am of the belief traders are waiting for the Thursday economic reports before choosing a direction. despite a very weak U.S. Dollar (FOMC CHAIRMAN " sluggish economy for next few months") the Gold seemed to bridge the gap between a 16 point lower Dollar and a 50+POINT lower Crude Oil market. A $4.60 point range today..................................
HIGH.....678.80 LOW...674.20 CLOSE...675.10...................
CHECK OUT www.commoditytrader.com ..........written several articles..........
The following are my guide-line numbers 6/6 August Gold..................
resistance #2...680.50
resistance #1...678.00
pivot...676.00
support #1......672.50
support #2......671.00...........................
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