As of now, it does not look positive for gold. The daily candle looks like it could close below the TL, with WSPEC in the wrong position for a rally.
If this chart seems reminiscent of the high flier tech stocks, then I commend you. In this case, we have a strong market with no pullbacks since 2160 roughly. Now, before the razorblades come out, it’s entirely possible that gold fails to close below the TL today, and the indicator is just that, a line on a chart. I say that because the WSPEC is still embedded, and that means anything can happen. All that said, if you are holding gold as a trading investment, observing the price action over the next couple of days is important as a confirmation would imply a visit to the weekly support area on the chart.