Spot gold may retest support at $4,110

By Reuters News

SINGAPORE, Sept 29 (Reuters) - Spot gold may retest a support at $4,110 per ounce, a break below which could trigger a fall into the $4,058 to $4,084 range.

A projection analysis on the downtrend from $4,371 reveals this support -- the 238.2% level, which temporarily holds. A weak bounce occurred.

A reversal of the downtrend won't be considered unless it extends above $4,152.

* Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are published exclusively on the Workspace platform, a London Stock Exchange product.

** 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.


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