Thursday, October 04, 2007

Gold Closes Up $8.10 Today...................

Today's Gold trade was very volatile and found direction thanks to a very STRONG Crude Oil market(up 140 + points at Gold close) and a U.S. dollar that went from positive to negative (11 LOWER at the Gold close) late int he trading session.Gold opened 4-5 Dollars LOWER and TRADED on it's lows most of the first half. Huge $18.00 trading range today. BIG REPORT NUMBER TOMORROW : UNEMPLOYMENT 7:30 am. CST....................
HIGH...744.50 LOW...726.50 CLOSE...743.80............................
It appeared early on that traders were taking profits and willing to wait for the UNEMPLOYMENT report. However I believe the late session pounding of the U.S. Dollar gave investors the feeling the Dollar was in for more of the same Friday..................
The following are my SWING NUMBERS for FRIDAY 10/05...DECEMBER GOLD..............
resistance #2..............................756.00
resistance #1..............................749.50
pivot.......................738.00
support #1...................................731.50
support #2...................................718.00

TRADE SMART...........
OPEN AN ACCOUNT TODAY............888-282-2770...................

0 Comments:

Post a Comment

<< Home