Jnug to Gold "The drop is still not finished"

Short

Direxion Daily Junior Gold Miners Index Bull 2X Shares (AMEX:JNUG)

Updated

AMEX:JNUG Direxion Daily Junior Gold Miners Index Bull 2X Shares

trendanalysis waveanalysis indicator gold xauusd gld gdx gdxj jnug nugt dust jdst

Here is the 1 hour chart for Jnug. We are in the 5th wave down.....but we are only in the mini 3rd wave of this 5th wave. I wouldn't be surprised if Jnug hits below the $11.50 range. GL

Comment:

Gold Daily Chart

Gold is going to follow this path for the most part. Should drop until the March 15th FOMC. 1255 is my target range. If this is the start of the downtrend that I have been talking about for soooo long...then expect a 61.8% bounce retracement in gold and Jnug immediately after the 15th, before the start of the blood gold days.

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