SINGAPORE: Spot gold may break a support at $1,769 per ounce and fall into a range of $1,734-$1,744.

A five-wave cycle from $1,902.70 looks incomplete. So far, only four waves have unfolded.

The final wave labelled 5 is travelling towards the target range.

Resistance is at $1,797, a break above which could lead to a gain to $1,825.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.