Gold closed lower on Friday as it extends this week's decline below the 20-day moving average. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are 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 the 10-day moving average crossing would temper the near-term bearish outlook.
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