width=488
 
Gold closed higher on Thursday but continues to consolidate above the 25% retracement level of the 2009-2010-rally crossing. Stochastics and the RSI are neutral to bullish hinting that a 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 renews the decline off January's high, the 25% retracement level of the 2009-2010-rally crossing is the next downside target.