Markets

Trading Forecast Gold

Gold closed higher on Tuesday and is poised to extend this year's rally. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bearish warning bulls that a pause in this year's rally or short-term correction is possible. 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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