GOLD technical picture & outlook for September 16, 2014

Short positions are intact as the June low @ 1240 (now turned into resistance) was clearly broken last Friday. I would use $1.252 on a closing basis as the new stop for shorts. Gold bears wish for a test of the yearly lows @ 1180.

Gold Dec’14 futures, daily chart:
GOLD_20140915

Chart courtesy of Barchart.com. http://barchart.com

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