$GOLD just closed above its 200-day MA Friday. Next resistance sits at the April high around 4890.
But here's the thing — I'm still reading this as a bear market rally. Not chasing it blindly. Expecting the next intermediate top to form right around that 4890 zone.
This is classic cycle positioning: respect the bounce, know where it likely exhausts, don't overstay. If you're in, start thinking about where you rotate out. If you're not, probably not the entry you want.
But here's the thing — I'm still reading this as a bear market rally. Not chasing it blindly. Expecting the next intermediate top to form right around that 4890 zone.
This is classic cycle positioning: respect the bounce, know where it likely exhausts, don't overstay. If you're in, start thinking about where you rotate out. If you're not, probably not the entry you want.