Markets

Trading Forecast Gold

Gold closed sharply lower on Thursday and below this year's uptrend line crossing signalling that a trend change appears to be taking place. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below last Monday's low crossing would confirm a top and trend change has taken place. If it extends this year's rally, May's high crossing is the next upside 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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