GOLD (XAU/USD) – Breakdown from Flat Range?

Hello traders
💰 Gold Spot (XAU/USD) - 2H Chart Analysis

🔍 Market Insights:
🔹 Uptrend Channel Breakout: Gold was trending in a bullish channel but broke out and transitioned into a flat consolidation.
🔹 Flat Price Action: After multiple rejections at the top, price has failed to continue the bullish momentum.
🔹 Potential Breakdown: The price is now showing bearish momentum and could test the $2,880 support level.

📉 Key Levels to Watch:
✅ Resistance: $2,950 - $2,960 (Flat Range Top)
✅ Support: $2,880 (Key Support) & $2,760 (Major Support)

📊 Possible Scenarios:
📌 Bearish Continuation: If the price fails to reclaim $2,925, we may see a drop to $2,880, and potentially $2,760 if bearish pressure continues.
📌 Reversal Opportunity: A bounce from $2,880 could lead to a retest of the upper range near $2,950.

💬 Will gold break down further or find support for another push higher? Let me know in the comments! 🔥👇

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