SINGAPORE: Spot gold may test a support at $1,801, following its failure to break a resistance at $1,830 per ounce.

The failure suggests an extension of the correction from the Jan. 3 high of $1,831.62. The correction may be shaped into a flat pattern or a wedge.

A break below $1,801 could open the way towards $1,782, while a break above $1,815 could lead to a gain to $1,830.

Spot gold may test resistance at $1,830

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