Gold closed lower on Wednesday while extending the trading range of the past seven days. The midrange close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are bearish hinting that a short term top might be in or is near. Closes below the 20day moving average crossing would confirm that a short term top has been posted. If it renews the rally off June's low, the reaction high crossing is the next upside target.