The US Dollar is squeezing between the 50 and 200 sma on the 2hour chart. A break in either direction is possible. JNUG or DUST dependent.
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Here is what I expect for Gold. Last pullback was 5 days. I suspect we are going to get another 5 day pullback. We are currently on day 3. I could see 1232 as a low, then a move higher for gold to 1285. Miners should show some life soon as they usually lead.
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Starting to take a position in JNUG here. My target of 1232 gold and 7 jnug have been hit.
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The underlying ETF for JNUG is at 50% Fibo. Promising point to move higher.
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Miners should find support here. Note the red dotted line.
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GOLD perfectly found my target box 1232. Looks like its starting to move higher. Miners are not. I expect miners to lead higher, so this may not be the bottom.
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Since the underlying etf for JNUG is GDXJ its probably better to watch that one. I still see support at the red dotted line. 61.8% retrace is probably going to happen. I believe that number is 33.5
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Support holding, buying more JNUG here.
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Last chance, better hold...
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GDXJ still holding, consolidation in progress. Wait for a solid volume turn to buy.
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This horizontal consolidation continues. I don't think its a bear flag. I suspect the bottom is in.
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Minsers holding up pretty good. Low is probably in for miners, but more downside expected in GOLD. 1188 target
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Right shoulder holding. Looks like it wants to move higher.
Trade closed: target reached:
Good profit, trade closed on JNUG manually
