TECHNICALS-Spot gold may retest resistance at $2,395

* For more technical analyses, click TECH/C SINGAPORE, May 16 (Reuters) - Spot gold XAU= may retest resistance at $2,395 per ounce, a break above which could open the way towards $2,410. The metal has climbed above the key barrier at $2,372, the 61.8% retracement of the downtrend from the April 12 high of $2,431.29. It has a better chance of revisiting this high. Either a wave e or a wave a is driving the rise. Both are capable of travelling higher into $2,410-$2,431 range, as pointed by a rising trendline. Support sits at $2,379, a break below which could be followed by a drop into $2,358-$2,371 range. On the daily chart, the rise from the may 3 low of $2,277.19 looks so strong that it suggests a continuation of the uptrend. Driven by a wave C, the trend could extend to $2,511. Strategically, this target will be confirmed when gold breaks $2,434. * 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/3ULfWaD tech https://tmsnrt.rs/44I2EAw ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Nivedita Bhattacharjee ) (([email protected]; +65 6973 8364/9188 4196))