Gold Put idea

XAUUSDGLDNEM

One of the biggest reasons I went from Bullish to bearish on Gold, is the simple fact the market is now right back like nothing ever happened. So you could argue safe havens aren’t really safe anymore. The overall market is looking to the future and the future looks bright. Which isn’t good for gold, so the play behind this thesis is the market continues to rally over the high of day, and continue to rally to $325 to $330+ range.

There is manipulation across-the-board and gold is not excluded. Not interested in playing this if it gets above 1700, with the economic outlook getting super bullish and positive... gold should be way lower than what it is now.

Realistic Gold PT: $1600-$1650 if market conTinues with strong momentum.
NEM PT: $55 Lower
GLD PT: $158 lower if Gold thesis confirms/validates.


Note: I will turn Bullish if SPY gets a cool off aka gap down.