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SEAN LUSK ENERGY REPORT

Energy Prices have fallen from their highs in the session to around $141.00 a barrel at the close. Some profit taking from funds and speculators contributed to the sell-off. The market did hold 140.00 a barrel which is a bullish signal after many attempts late in the day to breakthrough it. Traders have many things to beware of this week. First off the World Petroleum Congress meeting in Madrid this week runs through Thursday. OPEC's President and Secretary General along with Oil Ministers from Nigeria, Russia, and Venezuela will be there. Also executives from BP, Exxon Mobil, and BP Shell will be in attendance also. You can bet they all will say prices are too high but until they can come together and raise production to somewhat meet strong world demand, nothing fundamentally will change unfortunately. Tomorrow the Department of Energy will release the crude and gasoline inventories at 9:35CST. My Guesstimates will call for a build of crude oil of a quarter million barrels and the same build for gasoline. Look for a slight build in distillates also. Because of the short holiday week look for traders not wanting to be stuck short the market over the 4th holiday weekend. Traders are also watching the verbal shouting match between Israel and Iran over Irans nuclear ambitions. This more than anything has traders on edge and definitely favors the bulls. High 14333 Low 13995 Close 14105 Resistance #2 144.82 Resistance#1 142.93 Pivot 141.44 Support#1 139.55 Support#2 138.06 Trade Smart and open an Account Today with Sean Lusk: 888-299-1351

GOLD CLOSES $16.20 HIGHER TODAY........

The Gold rallied strong today ....taking out key resistance levels due to news that tensions between Israel and Iran escalated over Iran's nuclear threats. Any type of tension in the Middle-east will cause the Price of Crude oil and Gold traders to react. Usually to the UPSIDE. Investors Buy Crude in anticipation of a cut in production and they Buy gold in anticipation of a Weaker U.S. Dollar and as a SAFE HAVEN...The U.S Dollar____DOWN 19 at the Gold close. HIGH.....948.50 LOW....932.50 CLOSE.....944.50....... THE FOLLOWING ARE MY GUIDE-LINE NUMBERS 7/1 AUGUST GOLD....... RESISTANCE #2................958.00 RESISTANCE #1................951.50 PIVOT...................................942.00 SUPPORT #1..................... 935.50 SUPPORT #2.......................926.00 TRADE SMART..........OPEN AN ACCOUNT TODAY....888-282-2770...