Loading ...As you know, there are two schools of thought regarding $Golds near term future. 1, The bears that predict a smash that will result into a final capitulation and a restart thereafter of the great gold bull/reset.
2) The bull camp that believes that the multi year lows for $gold are already baked into the cake. Any swing low will then not result in a lower USD low for gold.
I’m in both with auto parts and miners. However, I can’t tell you or me or anyone else which of these two camps will be correct. I ride with the bulls on this but, that is from a fundamental view rather then a technical view.
We know that every gold overbought eventually ends and every oversold also eventually ends. Those are the swings that are evident even on a one year chart. And those are the same swings that I play with either some puts or calls. Right now I am waiting for this top to culminate…it will.