Gold- Daily technical Forecast

 @ibtimes
on August 11 2010 1:15 AM

 

Gold closed lower due to profit taking on Tuesday as it consolidated some of last week's rally but remains above the 20-day moving average crossing. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends last week's rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the friendly outlook.

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