Spot gold may test support at $4,194

By Reuters News15 hours ago Updated

SINGAPORE, Sept 28 (Reuters) - Spot gold may test a support at $4,194 per ounce, a break below which may open the way toward the $4,178-$4,194 range.

A projection analysis on the downtrend from $4,370 reveals an extension of this trend below the 138.2% level of $4,219. The trend is highly likely to develop further towards $4,194.

A bounce from the current level may be limited to $4,245.

* 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.

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