TECHNICALS-Spot gold may rise to $2,665

* For more technical analyses, click TECH/C SINGAPORE, Nov 20 (Reuters) - Spot gold XAU= may rise to $2,665 per ounce, as it has broken a falling trendline and resistance at $2,634. The resistance is identified as the 50% retracement of the downtrend from $2,793 to $2,536. The next resistance will be at $2,665, based on this analysis. Meanwhile, the metal observes closely a set of projection levels on the fall from $2,762. The 161.8% level of $2,668 stands out as a target. A break below $2,634, now support, could trigger a drop into $2,610 to $2,624 range. On the daily chart, the uptrend looks intact within a rising channel. A retracement analysis on the trend from $2,295 to $2,793 reveals a break above the 38.2% level at $2,603. The metal is heading towards the 23.6% level of $2,676. * 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/4fzYHCy tech https://tmsnrt.rs/3CzvMQq ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Rashmi Aich) (([email protected]; +65 6973 8364/9188 4196))