TECHNICALS — Spot gold may rise into $4,406 — $4,474 range

For more technical analyses, click TECH/C SINGAPORE, Sept 18 (Reuters) — Spot gold may break a resistance at $4,373 per ounce and rise into a range of $4,406-$4,474. The metal surged from the Wednesday low of $4,235, completely reversing the fall from the same-day high of $4,366. The rise and reversal indicate the completion of wave C from $4,511. A channel technique suggests a further gain toward $4,446, the 76.4% retracement analysis on the fall from $4,511 to $4,235. Immediate support is at $4,340, a break below which may trigger a drop to $4,300. On the daily chart, the market has found strong support at $4,233 and started a bounce. Identified as the 61.8% retracement of the uptrend from $3,943 to $4,701, this support is a pivotal level for evaluating whether the uptrend from $3,943 could resume. Market stabilization increases the chance of the uptrend extending. The extension will be confirmed when the metal climbs above $4,511. 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