TECHNICALS — Spot gold may rise into $4,183 — $4,198 range

For more technical analyses, click TECH/C SINGAPORE, Oct 15 (Reuters) — Spot gold may break a resistance at $4,162 per ounce and rise into the $4,183-$4,198 range. Resistance is the 61.8% retracement of the downtrend from $4,218 to $4,073. The pattern between Oct. 7 and Oct. 14 looks like either a flat pattern or a double-bottom. The former is bearish while the latter is bullish. However, both suggest further gains toward $4,218. Support is at $4,128, a break below which may trigger a fall into the $4,094-$4,107 range. On the daily chart, the market stabilized again around support at $4,067, the 107% projection level of wave (c). A wave c from $4,201 is supposed to either end around this level or extend to $3,937. Given the bullish divergence on the daily RSI, this wave could be ending. 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 considered as being business, financial, or legal advice. Each reader should consult their own professional or other advisers for business, financial,