#GOLD closed higher on Thursday as it extends this years rally. The high-range close sets the stage for a steady to higher opening when Fridays night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If it extends the rally off Decembers low, the 87% retracement level of the August-December decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.
Posted on: Fri, 14 Mar 2014 06:28:52 +0000