Gold (update)

Gold confirmed a flag pattern yesterday and saw early follow-through buying today.  But, prices found resistance near a 261 Fib extension from a MM breakout pattern on the 240M chart that coincided with a downward sloping trend line.   The next key price levels remain 1264.20 and 1268.10.  If we can close above them it should trigger a nice upside breakout.  First, it would void the 3 point trend line serving as resistance.  Second, it would trigger a supershallow MM breakout pattern.  Finally, it would trigger a neutral MM breakout pattern.  Gold is definitely worth watching this week.