Gold closed lower on Wednesday and spiked below support marked by the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought and are turning 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 resumes this month's rally, the reaction high crossing is the next upside target.