Studying gold price behaviour, the weekly graph attached is what I see. Price is contained in a channel.
On weekly price looks to have headed right into resistance. It could pop over it and continue but I think here it would be a good odds trade for some puts.
In any case, there will be a nice gold shorting opportunity once price reaches the upper resistance line of the descending channel. Could happen before summer, but I think short term US dollar will rebound pushing gold lower - and then if the world avoids a depression this year, US dollar will decline and gold should soar.
On weekly price looks to have headed right into resistance. It could pop over it and continue but I think here it would be a good odds trade for some puts.
In any case, there will be a nice gold shorting opportunity once price reaches the upper resistance line of the descending channel. Could happen before summer, but I think short term US dollar will rebound pushing gold lower - and then if the world avoids a depression this year, US dollar will decline and gold should soar.