Gold closed sharply lower on Wednesday as it extends the decline off last week's high. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Today's close below the reaction low crossing opens the door for a possible test of February's low crossing later this spring. Closes above the 20-day moving average crossing would confirm that a short-term top has been posted.
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