Markets

Trading Forecast Gold

Gold closed higher due to short covering on Friday as it rebounds off support marked by the 20-day moving average crossing. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. However, closes above the 10-day moving average crossing have tempered the near-term bearish outlook. 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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