I think there is a 5-10% downside potential in gold over the next week or two.
The Technical's:
Divergence between the volume and price action 50/200 period cross over (theyre now intermingling) Head and shoulders pattern
The Fundamentals and Gut:
I like gold longer term here, but, for the short / swing term, i see a pull back coming. Additionally, i think the overall market is due for a major pull back, but Im done trying to call that. I think if that got lucky and timed just wright with this trade, it could add a lot of value here as well.
Good Luck.
Im checking out the Leveraged ETF's here DUST and DUST CALLS (Depending on liquidity)
Trade active
⋅
Been in this trade since posting. It has been trending well. I will update the post if we exit.
ITM May 1 GLD PUTs