GOLD technical picture & outlook for September 1, 2014

Gold rebounded from the critical 1275/1280 level in the last couple of days. Has not progressed a lot from there, but still its reaction was a positive. The case is: a close below $1275 would open the way to $1240, while only prices over $1295 will make hope for a retest of the recent 1320/1325 highs. Having a small speculative long position now with a tight stop-loss.

GOLD_20140829

Chart courtesy of Investing.com. http://investing.com

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