Gold closed lower due to light profit taking on Monday as it consolidated some of last week's rally. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are turning neutral to bullish again signalling that sideways to higher prices are possible near-term. If it resumes the rally off February's low, 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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