Markets

Trading Forecast Gold

Gold closed higher due to short covering on Tuesday as it consolidated some of this month's decline but remains below the 20-day moving average crossing. The mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. If it renews this year's rally into uncharted territory, upside target are hard to project.

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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