Gold price, page-517

Someone asked me before why do I think $1267 level is important.
Looking at previous charts and specifically January 2015, gold experienced a rally and broke an important key support level of $1240 and went on to touch the $1267 level, before it settled at $1260. Then it went on and broke a resistant key lev of $1270 to find another support level of $1275, before it met another resistant level at $1290.

last couple of months, gold repeated a similar move where we consolidated around $1250, then revisited $1267 and met the $1287/$1290 resistant point, before we retraced back.

This is the third time where we revisited $1267 and historically it takes three goes to break a key resistant level of $1290.

IMO, there is no better time to break this level where there is strong evidence that economy is struggling, the US dollar is sold off, Fed is confusing the market, sentiment is low among consumers and investors, S&P at its peak, Earnings season is nearly done and most importantly, May is around the corner and gold usually performs in the first week of the month and when correction is happening.

Looking for $1336 in May.

Hope I have answered the question ! can't recall the name of the poster.

Happy days are coming for sure, GOD will.

Cheers,

Sydney