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October gold closed slightly higher on Wednesday

October gold closed slightly higher on Wednesday as it extends this month’s trading range. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are neutral to 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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