Markets

Trading Forecast Gold

Gold closed sharply higher for the third day in a row on Wednesday as it extended this year's rally to another new all-time high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning 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 are needed to 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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