Bearish sentiments on Spot Gold; RSI negative

Gold closed sharply higher due to short covering on Friday and the high range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near term. If it extends this week's decline, the June 2011 low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a short term low