TECHNICALS-Spot gold may rise into $2,672-$2,685 range

* For more technical analyses, click TECH/C SINGAPORE, Jan 8 (Reuters) - Spot gold XAU= may break resistance at $2,664 per ounce and rise into the $2,672 to $2,685 range. The market has totally recovered from the fall to the Jan. 6 low of $2,614. The recovery suggests an extension of a wave C towards $2,685, its 161.8% projection level. It is critical that the metal remains above $2,638, as a break below this could suggest the formation of a flat pattern, which may complete when the market falls to $2,617. On the daily chart, trending signals look a bit mixed, as gold is stuck in a neutral range of $2,603 to $2,676. An escape would suggest a direction. A break above $2,676 would indicate a continuation of the uptrend towards the $2,721 to $2,759 range, while a break below $2,603 could trigger a deep fall into the $2,486 to $2,544 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/3DVB3Cm tech https://tmsnrt.rs/421gONT ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Subhranshu Sahu) (([email protected]; +65 6973 8364/9188 4196))