Gold closed higher on Wednesday as it consolidated some of last week's decline. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning bullish hinting that a short-term low might be in or is near. Closes above the 10-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews last week's decline, the reaction low crossing is the next downside target.