GOLD CLOSES UP .30 CENTS TODAY.........
TODAY'S GOLD TRADE WAS TRULY AMAZING. THE NIGHT SESSION PUSHED GOLD DOWN TO $880.00 (MY SUPPORT WAS $880.50) BEFORE PUSHING IT AS HIGH AS $898.70 IN THE DAY SESSION. THE SETTLEMENT WILL SHOW JUNE GOLD GAINING 30 CENTS ON THE DAY, HOWEVER I FEEL LIKE IT WAS A HUGEV UP DAY.WITH THE FOMC MEETING NEXT WEEK MANY TRADERS YHERE WILL BE YET ANOTHER RATE CUT (1/4...1/2 POINT)....THE GOLD HAS BEEN TRADING LIKE A WOUNDED DUCK...VERY TENTATIVE/ CHOPPY / AND EXTREMELY VOLATILE...LOTS OF SMALL TRADERS GOT CRUSHED THIS PAST FEW WEEKS.THIS OFTEN HAPPENS DURING CORRECTIONS /OVER-BOUGHT MARKETS.....HOWEVER, WITH THE CRUDE OIL TRADING OVER $120.00, COMMODITIES UP ACROSS THE BOARD, AND A VERY WEAK HOUSING & LABOR SECTOR....PEOPLE SHOULD BE INVESTING IN SAFE HAVEN INVESTMENT (NONE BETTER THAN GOLD)........................................... HIGH...898.70.......LOW...885.50........CLOSE......889.70....... MY SWING NUMBERS FOR MONDAY... RESISTANCE #2............................................904.00 RESISTANCE #1............................................896.50 PIVOT...........................................891.00 SUPPORT #1...................................................883.00 SUPPORT #2...................................................878.00 TRADE SMART......OPEN AN ACCOUNT TODAY......888-282-2770 FREE RESEARCH TO MY CLIENTS.............................. I |
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