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Gold closed lower on Monday as it consolidates some of last Friday's rally. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold and are turning bullish signalling that a short-term low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it extends the decline off January's high, the 25% retracement level of the 2009-2010-rally crossing is the next downside target.