Gold traded in a technical range today trading higher off the weakness of the U.S Dollar. I believe many traders were sidelined today awaiting tomorrow's economic data.
Especially the Jobless Claims...as investors look to the unemployment situation to judge the economic outlook. Gold traders are looking for a close above $1140.00 technically to change the trend. In the mean time I feel traders are uneasy about holding long positions and have been taking late session profits.
REPORTS: 3/18
CPI.....................................7:30 am (CST)
EXPORT SALES...................7:30 am (CST)
INITIAL JOBLESS CLAIMS......7:30 am (CST)
REAL EARNINGS..................7:30 am (CST)
SWING NUMBERS.....3/18...
RESISTANCE # 2............$1139.00
RESISTANCE # 1............$1131.00
PIVOT...........................$1126.00
SUPPORT # 1.................$1118.00
SUPPORT # 2.................$1113.00
