Gold closed higher on Friday due to short covering as it extended Thursday's rally. The high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral hinting that sideways to higher prices are possible near term.
If April resumes this month's rally, the reaction high crossing at 1142.90 is the next upside target. Closes below the 20 day moving average crossing at 1097.90 are needed to confirm that a short term top has been posted.
First resistance is Monday's high crossing at 1131.50
Second resistance is the reaction high crossing at 1142.90
First support is the 20 day moving average crossing at 1097.90
Second support is Thursday's low crossing at 1088.50
How will you trade the "Super Cycle" in Gold
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