Gold -Daily Technical Forecast

Gold closed lower on Wednesday and the low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. Closes above last Tuesday's high crossing are needed to confirm that a short-term low has been posted. If it renews the decline off November's high, the reaction low crossing is the next downside target.