Markets

Trading Forecast Gold

Gold closed sharply higher on Tuesday and posted another new all-time high as it extends this year's rally. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this year's rally, upside targets will be hard to project now that October is trading into uncharted territory. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

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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