Spot gold may test support at $4,194

Spot gold TVC: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 toward…