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Second negative close on gold currently and gold is trading below the 5EMA. If this negativity continues, the situation will be bad!!!
Currently, there is a monthly close below the 5EMA and a second weekly close below the 5EMA on gold, which means the negativity is dominant now, and if it continues, worse may be coming!!!
Currently, in my opinion, gold is still heading towards $4300 as the primary target, and if support fails there, we will head to $4100. The idea is, as long as it remains in the negative zone, I will stay cautious!!
The important thing is the return of the positive zone on the daily timeframe and on the 4-hour timeframe!
If it returns on the 2-hour timeframe, I will be positive and strongly bullish on gold, and I expect much higher numbers!!!
But currently, unfortunately, the negativity is stronger until proven otherwise!!!
Having closes above $4700-$4800 will be the start of a positive comeback, and if a close occurs above $5000, it means positivity has returned strongly because it will affect the daily timeframe, and this is what is currently expected!!!
Therefore, I am watching and will update first-hand if there is any new development on gold!..
#WCTCTradingKingPK #USSeeksStrategicBitcoinReserve