They've been talking about $1270 as a key level to be surmounted for a while. Never saw the argument as to why. So here's a handy chart showing clearly what they mean by the 1270 pivot level. It's the horizontal level of the peak that's made after a significant low, in this case the June 2013 low of $1180. The subsequent peak they observe was on July 02. So it will be technically bullish if gold can stay above that short term rise made after the June 2013 $1180 low. Note you would need to use your 'zoom' function to see clearly what the chart is saying on the linked page. Bank Of America: "Gold Squeeze Gets Explosive Above 1270" Submitted by Tyler Durden on 23rd Jan 2014 Just out from Bank of America's head technician MacNeill Curry: http://www.zerohedge.com/news/2014-01-23/bank-america-gold-squeeze-gets-explosive-above-1270?page=1
