Gold posted a key reversal down due to profit taking on Thursday and the low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends this year's rally, upside targets will be hard to project now that October is trading into uncharted territory.
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.
