DUST - looks ripe for a trade!

Long

Direxion Daily Gold Miners Index Bear 2X Shares (AMEX:DUST)

Updated

AMEX:DUST Direxion Daily Gold Miners Index Bear 2X Shares

DUST held Fib support from yesterday's swing high and low. Made a higher low from yesterday and just made a higher high as I edit my idea live. Miners looks super extended and failed to make new highs despite the strong moves in gold and silver. Not sure how long it lasts but the time may be write for a miners counter trade. As you know I am a precious metals bull but the moves here are extreme and are getting long in the tooth. GDX undercurrent yesterday's low.

Comment:

This broke thru $19.06 this morning. Watching GDX levels 39.72 and then 38.50

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