Gold was higher overnight as it consolidates some of Thursday's decline. Stochastics and the RSI are overbought and are turning neutral hinting that a short term top might be in or is near.
Closes below the 20 day moving average crossing at 1107.20 would confirm that a short term top has been posted. If April extends the rally off February's low, January's high crossing at 1166.70 is the next upside target.
Friday's pivot point for gold, our line in the sand is 1133.77
First resistance is Wednesday's high crossing at 1145.80
Second resistance is January's high crossing at 1166.70
First support is the 10 day moving average crossing at 1120.80
Second support is the 20 day moving average crossing at 1107.20
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