Thursday, July 19, 2007

Late Session Rally causes Gold To Close $4.40 Higher Today............

Today's Gold trade was very tight and technical.the market traded virtually between my pivot and resistance points all day.A weak U.S. Dollar and a higher Crude Oil market certainly helped to support the Gold rally. I believe the reporting of a surge in physical Gold buying (especially in the Middle-east ) has been the catalyst . The market traded in a $5.00 range today............
HIGH 678.50..............LOW 673.50............. CLOSE 678.10...................
Tomorrow being Friday ...we may see some profit taking !!!
the following are my guide-line numbers for Friday 7/20....AUGUST GOLD.................
resistance #2.............681.50
resistance #1.............679.50
pivot.........676.50
support # 1.................673.50
support # 2.................671.50

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