I would not put this up if it were a guess. this is a MASSIVE technical event (if gold stays at or above this level for the next few days). a break of a long term down trend with a re test of the line is very strong sign that the down trend has been broken and a lot of traders will be watching this now for a bullish move.... I do agree that if you have studied options well, they are great and they allow you to hedge your risk much better than most products.