TECHNICALS-Spot gold may rise to $2,559

* For more technical analyses, click TECH/C SINGAPORE, Aug 26 (Reuters) - Spot gold XAU= may rise to $2,559 per ounce, as it has completed a pullback towards a triangle. The pattern has thus been confirmed, suggesting a target around $2,600. A projection analysis on the uptrend from $1,984.09 reveals resistance at $2,511, which has been broken. The break opened the way towards a realistic target of $2,559. The triangle forms a more bullish pennant, together with the rise from the June 26 low of $2,293.49. The latter indicates a much higher target around $2,675. On the hourly chart, the metal is about to break resistance at $2,519, the peak of a wave b. A failure is likely to be followed by a fall to $2,496. The failure would become apparent when gold breaks $2,510. * Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. ** No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult their own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ xau https://tmsnrt.rs/3T4MHzA tech https://tmsnrt.rs/4dDYwoG ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Varun H K) (([email protected]; +65 6973 8364/9188 4196))