TECHNICALS-Spot gold may retrace into $2,641 to $2,646 range
* For more technical analyses, click TECH/C SINGAPORE, Oct 2 (Reuters) - Spot gold XAU= may retrace into a range of $2,641 to $2,646 per ounce as the correction from the Sept. 26 high of $2,685 looks incomplete. Three waves make up the correction. The wave B seems to have just finished around resistance of $2,675, which is close to the peak of a small wave b. The current wave C may travel into a wide range of $2,626 to $2,641. A break above $2,667 could trigger a gain into the $2,675 to $2,689 range. On the daily chart, the market faces resistance at $2,683, which caused a correction that is supposed to be against the uptrend from the Sept. 4 low of $2,472. The metal may either consolidate further in the range of $2,636 to $2,683 or break support at $2,636 and fall towards $2,592. * 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 h https://tmsnrt.rs/3NaTSD8 xau https://tmsnrt.rs/4eGVRvf ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Sonia Cheema) (([email protected]; +65 6973 8364/9188 4196))
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