We are at an important place in time & price for gold - especially ahead of the elections.

A break of $1303 will signal a break out short term. A break of $1327 will signal a break out medium term. A break of $1340 will signal a break out long term.

Be it that we break out above $1340 then we could easily see a leg up similar to the one earlier this year of approx $300 This would put us at $1550 which is where long term support from the 2000-2011 bull market broke down from.

A break above $1340 would confirm that the gold bear bottom was in December 2015 & that we are indeed in a new bull market.

And as such every bear would have to change his mind & go long adding to the impetus.

As such this is a very important level that if taken out should be bought with both hands....