SINGAPORE: Spot gold may break a support at $1,769 per ounce and fall into a range of $1,734-$1,744.
A five-wave cycle from $1,902.70 looks incomplete. So far, only four waves have unfolded.
The final wave labelled 5 is travelling towards the target range.
Resistance is at $1,797, a break above which could lead to a gain to $1,825.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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