Spot Gold May Hit High Soon As Rsi Turn Bearish

 | Jul 31, 2013 03:38AM ET

Gold closed lower on Tuesday. The high range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI have turned bearish hinting that a short term top might be in or is near. Closes below the 20day moving average crossing would confirm that a short term top has been posted. If it extend the rally off June's low, the reaction high crossing is the next upside target.