GOLD - Potential Pullback to Retest Support

Gold is trading near a key resistance zone within an ascending channel, suggesting a potential pullback. If price rejects the resistance zone, this could present an opportunity for sellers to re-enter the market.

The immediate target for sellers lies at $2,677.99, a key support zone where buyers might re-enter. A decisive break below this level could pave the way for further downside, with the broader ascending channel potentially invalidated.

This setup reflects a clear shorting opportunity if the price fails to sustain above resistance. Traders should wait for bearish confirmations before considering short positions.