SINGAPORE: Spot gold has turned neutral as the sharp rise from $1,626.34 per ounce on Tuesday has violated a short-term downtrend.
The downtrend descended from the Monday high of $1,694.60 and has adopted an "a-b-c" corrective wave mode, neutralizing the signals and indicating the downtrend may resume or be completely reversed.
A fall below $1,651 will extend to $1,637.
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