TECHNICALS-Spot gold neutral in $2,503 to $2,524 range

* For more technical analyses, click TECH/C SINGAPORE, Aug 28 (Reuters) - Spot gold XAU= looks neutral in a range of $2,503 to $2,524 per ounce, and an escape could suggest a direction. The rise from $2,503.10 was presumed to ride on a wave c, which is supposed to travel into a range of $2,538 to $2,559. However, this wave suffered from weak momentum around resistance at $2,525. The correction triggered by this resistance makes the current wave count doubtful. The tricky part is, until gold breaks $2,503, a bearish view could not be created. On the daily chart, the metal still struggles around resistance at $2,511. The bias seems towards the upside, as a bullish triangle/pennant has been confirmed, indicating a target around $2,600. As long as the metal remains above $2,473, the target is likely to be fulfilled. A break below this level would make the triangle and target invalid. * 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/4e4jsFr tech https://tmsnrt.rs/3AHyxOK ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Subhranshu Sahu) (([email protected]; +65 6973 8364/9188 4196))