Gold closed higher due to short covering on Wednesday but remains below the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bearish hinting that a short-term top might be in or is near. Closes below last Thursday's low crossing are needed to confirm that a short-term top has been posted. If it renews this year's rally into uncharted territory, upside targets will now be hard to project.