Spot gold TVC:GOLD may retrace toward a narrow support zone of $4,025-$4,041 per ounce after failing to break resistance at $4,084.
The failure indicates a completion of the bounce.
Channel technique suggests a further slide
Resistance at $4,084, a break could trigger a gain into $4,128-$4,142 range.
* Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are exclusively published 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.