June gold closed higher on Thursday as it extended the trading range of the past five days. The high-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 1429.60 are needed to confirm that a short-term low has been posted. If June renews this month’s decline, April’s low crossing at 1321.50 is the next downside target. First resistance is the 20-day moving average crossing at 1429.60. Second resistance is May’s high crossing at 1487.20
For more info : https://www.rsbl.co.in/pdf/report.pdf
