TECHNICALS-Spot gold may test resistance at $2,695

* For more technical analyses, click TECH/C SINGAPORE, Nov 22 (Reuters) - Spot gold XAU= may test resistance at $2,695 per ounce, a break above which could open the way towards $2,732. The metal has broken key resistance at $2,665, the 50% retracement of the downtrend from $2,793 to $2,536. The next strong resistance is at $2,695. Wave pattern suggests the development of an extended wave 5, which is expected to be longer than the wave 3, to travel into the $2,695 to $2,732 range. Immediate support is at $2,672, a break below which could trigger a drop into the $2,643 to $2,656 range. On the daily chart, the metal has broken resistance at $2,676. The break could lead to a gain into the $2,721 to $2,759 range. * 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/4fJdQSg tech https://tmsnrt.rs/3V7pJsH ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Eileen Soreng) (([email protected]; +65 6973 8364/9188 4196))