TECHNICALS — Spot gold may revisit Monday high of $4,217

For more technical analyses, click TECH/C SINGAPORE, Oct 13 (Reuters) — Spot gold may revisit its previous trading session's high of $4,217 per ounce, as a correction from this level could have completed. The completion was indicated by the strong bounce around a key support at $4,148, indicated the completion of the correction. The level marks the 61.8% retracement of the rise from $4,105 to $4,217. The wave pattern suggests the development of an upward wave c, which is capable of travelling above $4,217. A break below $4,161 may cause a fall into the $4,132-$4,148 range. On the daily chart, the market remains within a neutral range of $4,122-$4,233. A break above $4,233 will not only open the way towards the $4,322-$4,411 range but also suggest an extension of the uptrend from $3,943. A bearish scenario will be a break below $4,122, which could trigger a drop into the $3,943-$4,046 range. Considering the possible extension of the uptrend from $3,943, the bias might be toward the upside. 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 Exchan