June 14, 2011 6:41 AM GMT
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| Gold closed lower on Monday as it consolidates some of the rally off May's low. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 are needed to confirm that a short-term top has been posted. If it extends the rally off May's low, May's high crossing is the next upside target. |
The dollar is sharply stronger this morning, gaining against all of its major counterparts other than the JPY on a fresh wave of risk aversion.
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Indian Rupee Continues To Fall, Crosses 56 Mark Against Dollar; Analysts Seek Strong Corrective ActionWe value your privacy. Your email address will not be shared.
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