SINGAPORE: Spot gold may test a resistance at $1,756 per ounce, a break above which could lead to a gain to $1,763.

The metal has been falling within a channel which suggests a target of $1,756.

It may end its bounce around this level and resume the downtrend, which is riding on a wave (3) towards $1,724.

Spot gold may fall into $1,756-$1,763 range

A break below $1,744 may signal the continuation of the wave (3).

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