Spot Gold Technical Analysis: Focus on $4,262 Support

[Spot Gold Technical Analysis: Focus on $4,262 Support]

1. Spot gold may test the support at $4,262 per ounce; if it breaks below, it could further open up room for a decline toward the $4,220-$4,235 range.

2. Wave C, which unfolded from $4,371, has temporarily paused near $4,277, corresponding to its 86.4% projection level. However, this wave may still extend to $4,262, its 100% projection level.

3. If gold prices break upward above $4,304, they could further rise toward the $4,317-$4,329 range.