TECHNICALS-Spot gold may retest support at $2,167

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* For more technical analyses, click TECH/C SINGAPORE, March 22 (Reuters) - Spot gold XAU= may retest support at $2,167 per ounce, a break below which could open the way towards $2,152-$2,161 range. The deep drop from the Thursday high of $2,217.79 suggests a completion of a wave (5), the last wave of an uptrend from the Feb. 14 low of $1,984.09. Over the next few days, the metal may fall towards the bottom of the wave (4) around $2,147. Resistance is at $2,188, a break above which could lead to a gain into $2,196-$2,204 range. ** Charts are unavailable in emails received through "Alert". To view charts, key in the news code TECH/C . ** 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/3Tl8ceM ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Subhranshu Sahu) (([email protected]; +65 6973 8364/9188 4196))
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Published Date
22 Mar 2024 at 10:30 AM
Publisher
Refinitiv
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