Gold Price Facing Resistance After Channel Break

hello guys!

Broken Channel:
The price recently broke out of a rising channel, signaling a potential shift in trend. Following the breakout, it retested the broken channel boundary, indicating that this level now acts as resistance.

Double Top Formation:
A double-top pattern can be observed near the upper resistance zone around $2,710–$2,730, suggesting that the price struggled to maintain upward momentum. This is a bearish signal, implying a potential reversal in the near term.

Middle Line of the Larger Channel:
The price touched the middle line of the larger upward channel before retracing, highlighting the importance of this level as a key resistance zone.

Potential Path:
if the price fails to break above the resistance zone ($2,710–$2,730), it could decline sharply toward the next support levels around $2,580 and $2,540.