Wednesday, December 05, 2007

GOLD CLOSES $3.90 LOWER TODAY....

The Gold traded in a brisk $8.80 point range today. I believe many traders took some profits before the EXPORT SALES and JOBLESS CLAIMS REPORTS due tomorrow at 7:30 am. Central standard time.The U.S. Dollar showed very impressive strength today(up 50points) and the Crude was higher(17 points) at the Gold session close.Gold actually had an impressive rally late to ONLY close $3.90 LOWER. The market will probably show lots of volatility with concerns of the FOMC 12/11 meeting. HIGH...806.80 LOW...798.00 CLOSE...803.70.............
THE FOLLOWING ARE MY SWING NUMBERS FOR 12/05...FEBRUARY GOLD...............
RESISTANCE #2.................812.00
RESISTANCE #1.................808.00
PIVOT......................803.00
SUPPORT #1.......................799.00
SUPPORT #2.......................794.00......................................................

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