Gold Closes $17.80 LOWER Today..............
With the help of a STRONG U.S. Dollar (up 35+ at the Gold close) traders took profits. The profit taking caused a bit of an avalanche effect while taking out support levels and touching off stop-loss orders on the way down. Many traders figured a profit take was evident after a $100+ point rally in less than 2 months. Many traders felt the market was over-bought. All markets need to refresh..I believe the Gold will rebound and trade higher by year end. The market traded a $10.20 point range today.(half the down trend in the over night market)... HIGH.....741.00 LOW.....730.80 CLOSE....736.60.............. SWING NUMBERS FOR 10/03...DECEMBER GOLD...... resistance # 2.........746.00 resistance #1...........741.00 pivot.....................736.00 support #1.................731.00 support #2...................726.00 TRADE SMART...............888-282-2770 OPEN AN ACCOUNT TODAY........................ |
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