Gold closed higher on Friday due to short covering as it extended Thursday's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral hinting that sideways to higher prices are possible near-term. If it resumes this month's rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.
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