TECHNICALS-Spot gold may bounce to $2,652

* For more technical analyses, click TECH/C SINGAPORE, Nov 26 (Reuters) - Spot gold XAU= may bounce to $2,652 per ounce, following its stabilization around support at $2,608. The support is identified as the 61.8% retracement of the uptrend from $2,538 to $2,722. It creates the last chance for the market to resume its uptrend from $2,538. Even a simple bounce could extend to the peak of the wave b at $2,689 at its full capacity. A break below $2,608 could open the way towards $2,538 to $2,581 range. On the daily chart, a retracement analysis on the uptrend from $2,295 reveals support at $2,603, which works together with the support at $2,608 to stop the fall. It is quite certain that market would experience a bounce. The uncertain part is the subsequent move after this bounce, as signals may remain neutral until the metal gets out of a range of $2,603 to $2,721. * 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. If you have a query or comment on this story, send an email to [email protected] <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ xau https://tmsnrt.rs/3Z7rqHP tech https://tmsnrt.rs/3CDxQqv ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Janane Venkatraman) (([email protected]; +65 6973 8364/9188 4196))