TECHNICALS-Spot gold may bounce to $2,651

* For more technical analyses, click TECH/C SINGAPORE, Nov 27 (Reuters) - Spot gold XAU= may bounce to $2,651 per ounce, following its stabilisation around support at $2,608. The support is identified as the 61.8% retracement of the uptrend from $2,537 to $2,722. It servers as a pivotal point to evaluate the subsequent move. The stabilization of the market around this barrier increases the chance the uptrend from $2,837 to extend. A break above $2,651 could open the way towards the $2,678 to $2,695 range. On the daily chart, a retracement analysis on the uptrend from $2,295 marks support at $2,603, which helps trigger a bounce towards $2,676. Considering the intact rising channel, the bounce may be alternately classified as a continuation of the uptrend. A climb above $2,721 would confirm this continuation. * 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/4fMsF6l tech https://tmsnrt.rs/3ZpYbS4 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Sherry Jacob-Phillips) (([email protected]; +65 6973 8364/9188 4196))