Thursday, August 30, 2007

GoldCloses Down $1.50 Today.............

Today's Gold market traded in a tight but CHOPPY range today.
As a Trader I know the best markets to trade are markets with volatility and volume.
The markets lately have had lots of volatility but the volume is way down.
This scenario is the reason we have been experiencing such huge swings in the markets.
I realize many traders got crushed during these CREDIT CRUNCH sell-offs in both the Equity markets as well as the Metals markets. When the investor community takes it's lumps the first thing that happens is a drop in volume.The Gold market is in need of a push to get over the 680.00 level (and in my opinion a Bullish follow through) to get the trading community feeling confident about getting back in the hunt. Gold traded in a $4.70 point range today...........
HIGH...676.50 LOW...671.80 CLOSE...673.90.......
REPORTS...PERSONAL INCOME.....7:30 am. CST.
BEN BERNANKE will speak tomorrow!!!!!!!!!!!!!!!
3 DAY WEEKEND.........................
The following are my SWING numbers for 9/1 FRIDAY....December GOLD ******
resistance #2..........................679.00
resistance #1..........................676.50
pivot ......................674.00
support #1...............................671.50
support #2...............................669.00

LEARN TO TRADE THESE NUMBERS...............................
OPEN AN ACCOUNT.......FULL SERVICE / SELF DIRECT......RATES FOR ALL LEVELS....
CHECK OUT WWW.COMMODITY TRADER.COM I HAVE WRITTEN SEVERAL METALS ARTICLES.....................FREE CONSULTATION..................GREAT RESEARCH !!!
TRADE SMART...............................

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