Wednesday, October 17, 2007

Gold Closes Up .30 Cents Today...............

Today's Gold trade covered a $8.20 point move (mostly up) prior to closing just .30 cents higher.
The early morning Housing sector report....BAD....Higher cost of credit = weak U.S.Dollar.
The market felt over-bought early and sold off due to profit taking before.KEY REPORTS
due out tomorrow. EXPORT SALES & JOBLESS CLAIMS 10/18 7:30am. CST...
ABC NEWS REPORTS "TURKEY DEFIES U.S.,OK's IRAQ INVASION"......Just what we need...more tension in the region. HIGH....769.20 LOW...761.00 CLOSE...762.30.....
The Following are my guide-line numbers for 10/18...Thursday...DECEMBER GOLD.....
resistance #2...................772.00
resistance #1...................767.00
pivot........................764.00
support #1........................759.00
support #2........................756.00.............................

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