Gold closed lower on Friday as it extends last week's decline below the 20-day moving average crossing. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target. Closes above Wednesday's high crossing would temper the near-term bearish outlook in the market.
Join the Discussion