GOLD technical picture & outlook for September 5, 2014

Continued weakness for Gold. Below the critical 1275/1280 support which has now turned into resistance. As long as Gold price is below $1275, chances favor a decline to $1240. Only closing prices over $1277 would change the daily trend to positive. Short positions with stop @ $1275 are favored.

GOLD_20140904
Chart courtesy of Stockcharts.com. http://stockcharts.com

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