Daily Chart

Well so Far so Good. We still have room to run, but to how high? I measured the height of this move over the last two days. Then I extended it and it reached that resistance area up around $12.27. My thought on the issue is that tomorrow will kind of give me an idea of how the next three or four days will go. Today was very promising. The economic data this morning should have killed gold             but it did not. That is very bullish . I am hoping for tomorrows data to gap us up to that first strong resistance between the $8.90 - $9.60 area. If we punch through that then I feel good about us reaching the $12.27 range. Then, As you can see, we should be due for a couple days of consolidation. I am envisioning a wedge type of trading for a couple of weeks. Not what I like to trade unless its real big swings. But based on what I am seeing, I think, IF we reach that $12.27 area by EOW or beginning of the next, then I will quickly buy into dust for about four days and then reconsider what to do. I may jump into OIL             DWTI             for a couple weeks at that point as the upward consolidation for oil             to $48 should be over by then and the continuation down to $40 - $39.

The real question that is plaguing me is, .....when do we fill that gap up to $15.76?

GL everyone
Comment: OH and by the way, Jnug went up real well even though spot gold has not started to rally yet. Just imagine what will happen when Gold starts to rally with Jnug. Hopefully good times ahead
Comment: Below on this daily chart I put two fib measurements. This is personally what I think is happening short term. Fib #1 shows an almost perfect 50% retracement. This would be a micro wave 2 consolidation. So tomorrow we should continue up and start wave 3. I measured wave #1 with a purple bold line and then moved it to the bottom of todays pullback. So if wave 3 was only equal to wave #1 then there would be the top. BUT, wave 3 is usually bigger than #1 and so I added Fib #2 to show you all the 1.61% potential for Wave 3. I personally don't think it will get to that level before doing the wave 4 shallow complex and much longer wave 4 consolidation. I think it appears more reasonable that we get to either the dotted black trend line at around the $10.65 area or the red trend line around $11. I put a oval in that area. And I am thinking maybe next Tuesday or Wednesday it will top wave three. After that I think we consolidate to either the $9.65 support or better yet the $8.90 support. I say better yet because a deeper correction gets you a little more money for wave 5. I will also post the gold chart to show you something. give me a sec.

Comment: 4 hours spot gold chart. We are currently trying to make a break above the 20 MA on this 4 hour chart. The BBands are real tight. As I have said in the past, what I have found, (and this is not 100% but is probable), is that when the BBands are tight signaling a break out move, that which ever side of the 20 MA the price is usually means a breakout to break through that line. So for spot gold, it is currently trying to break through, but it has been riding up against the bottom of it for a couple of days. If I had to make a bet just on that little bit of info, then I would say we break up. A break up for spot Gold can really help move Jnug. That's it for now, GL

Comment: I think the dollar topped today. Looks like a reversal Candle stick to me.

I noticed that too, yesterday's economic data should have killed gold. Right around 9.15am the USD shot from 99 up to 100.20. Very confusing for me as jnug and gold were almost unfazed. Sounds like you have some more experience than I do. Today jnug has taken a morning dip, maybe the afternoon can bring us through the $8.90 - 9.60 area you mentioned, but if it dips below $6.00 I am going 100k in. Gold doesn't have any reason to drop anymore.
Would Be Nice
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