Friday, March 07, 2008

GOLD CLOSES $2.90 TODAY............

Today's Gold trade was a very volatile trade and extremely hard to get a handle on.
the gold shadowed thw Crude on the DOWN-side but had a very rough time trading back through the PIVOT on the UP-side.It appeared the trading community bought the poor UNEMPLOYMENT number at 7;30 am...I thought we would have a strong up move.
However the Crude Oil market broke and took the Gold downward ($10.00 in one hour) and despite a very roller-coaster trade in the CRUDE OIL the Gold only showed parallel movement on the down -side. i can not imagine why anyone would want to be short Crude Oil over the weekend with all the Geo-political tensions in the World....(I know there was profit taking,but I believe traders were picking a top to short....many think Crude is top heavy).........
the market was as clear as MUD today !!! iF YOU HAVE A WINNER IN THESE MARKETS..."TAKE THE MONEY"............................................................................
HIGH...990.00 LOW...971.00 CLOSE...974.50.........
REPORTS MONDAY 3/10.....WHOLESALE TRADE...7:30AM. CST...
SWING NUMBERS FOR 3/10....APRIL GOLD..............
RESISTANCE #2...................998.00
RESISTANCE #1...................986.00
PIVOT......................................978.50
SUPPORT #1.........................967.00
SUPPORT #2.........................960.00
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TRADE SMART! OPEN AN ACCOUNT TODAY...888-282-2770...........

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