Gold closed lower due to profit taking on Monday as it consolidated some of the rally off February's low. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought, diverging and are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends this year's rally into uncharted territory, upside targets are hard to project.
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