Gold closed lower on Tuesday as it extended last week's decline. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends today's decline, the 38% retracement level of this year's rally crossing is the next downside target. Closes above the 20-day moving average crossing would signal that a short-term low has been posted.