Spot Gold May Extend Loss to $3,967, Technical Analysis Says
A projection analysis says spot gold may extend its loss to $3,967 per ounce after briefly moving below the $4,001 level.
Spot gold (TVC:GOLD) could extend its decline to $3,967 per ounce, according to a projection analysis. Wave C from $4,198 briefly fell below the 138.2% projection level at $4,001. The analysis points to a greater likelihood of an extension to $3,967, the 161.8% level. Resistance stands at $4,035.
A break above that level may lead…