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October gold closed higher on Tuesday

October gold closed higher on Tuesday but remains below the 10-day moving average crossing at 945.10 as it extends this month’s trading range. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above 972.70 or below 906.40 are needed to confirm a trading range breakout and point the direction of the next trending move. First resistance is the reaction high crossing at 962.00. Second resistance is the reaction high crossing at 972.70. First support is last Monday’s low crossing at 930.20. Second support is the reaction low crossing at 926.50.


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