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Gold closed higher due to short covering on Tuesday as it consolidated some of this month's decline but remains below the 20-day moving average crossing. The mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. If it renews this year's rally into uncharted territory, upside target are hard to project.