Gold was lower overnight and is poised to extend last week's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.
If February extends last week's decline, December's low crossing at 1075.20 is the next downside target. Closes above the 20 day moving average crossing at 1118.10 would temper the near term bearish outlook.
Tuesday's pivot point for gold is 1097.38
First resistance is the 10 day moving average crossing at 1117.00
Second resistance is the 20 day moving average crossing at 1118.10
First support is last Friday's low crossing at 1081.90
Second support is December's low crossing at 1075.20
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