Markets

Trading Forecast Gold

Gold closed lower on Thursday as it consolidated some of this week's rally while at the same time extending the trading range of the past three weeks. The low-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm an upside breakout of the aforementioned trading range. If it renews this month's decline, the 50% retracement level of this year's rally crossing is the next downside target.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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