April gold closed higher on Friday while extending this week's trading range. The high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near term.
If April extends this month's rally, the reaction high crossing at 1142.90 is the next upside target. Closes below the 10 day moving average crossing at 1093.70 would signal that a short term top has been posted.
First resistance is Wednesday's high crossing at 1128.70
Second resistance is the reaction high crossing at 1142.90
First support is the 20 day moving average crossing at 1093.80
Second support is the 10 day moving average crossing at 1093.70
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