August gold was slightly lower due to light profit taking overnight as it consolidates some of Thursday’s rally. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term.

If August extends this month’s rally, the reaction high crossing at 966.70 is the next upside target. Closes below the 20-day moving average crossing at 934.30 would temper the near-term friendly outlook.

First resistance is Thursday’s high crossing at 957.70. Second resistance is the reaction high crossing at 966.70. First support is the 10-day moving average crossing at 941.30. Second support is the 20-day moving average crossing at 934.30.