Gold closed lower on Wednesday as it consolidates some of Tuesday's rally. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends Tuesday's rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would signal that a short-term top has been posted.
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