Gold Facing Resistance at 2660: Breakout or Drop?
Updated
Gold is currently facing resistance around the 2660 level. If this resistance is broken, it is likely that the price will continue to rise and may reach up to 2680. However, if the price fails to break through this resistance, it could face further downward pressure, leading to a drop towards the support levels indicated on the chart. Traders should monitor these key levels closely, as a breakout or rejection at this resistance could signal the next major price movement.
Trade closed: stop reached
Gold broke out above the Trendline Resistance, and there were strong expectations for the price to continue rising. However, the release of the NonFarm Payrolls data had a significant impact, leading to a drop in the price. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.