Per request, here is an update for JNUG
I do think that gold and gold ETF's will turn if general market turns down.
Each person has their own preference for Gold ETF's (if they use them).
I prefer GDX for price and pattern.
Price broke out of blue and then yellow triangle as expected. See last chart.
If JNUG breaks most recent ATH around $100, this can indicate a new pattern.
More analysis/data is needed at $100 to see how price reacts.
Let me know if you need update later. I will help if I can. :)
If I was already entered, I would hold and would be watching $110 for possible exit, or stall of price. Should go up to fill gaps.
If I am not entered, I would look to enter long at lower gap fills or return to 10WeekMA.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website https://www.moneypatterns.com and have updated my name previously jbird7839. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC . Short term GDX , SPXS
Previous JNUG Chart
I think we test the 10WeekMA and go higher. Stop would be $63.45 or previous low.
Looks like your JNUG and my GDX are both going to benefit this morning :)
I think JNUG has a very good chance of gap filling the $92. That is where I would look at price taking a break/stopping.
But I think with conflict we eventually push higher with gold, JNUG, and GDX.
Hope you have a great week.
What I see is pattern would have fulfilled, then Fed liquidity comes in and these hedges take a dump. GDX, JNUG, SPXS, SQQQ.
This is not sustainable. So I take small losses (unrealized as I hold the position) until this gets back on track.
This is on the list for this weekend. I'll get an update out for you. :)
I was busy getting hammered by DOW and BABA from this virus outbreak. Neither are really effected earnings-wise, which was the play I was making.
Gold, Silver, bitcoin, are all about to go up IMO. If you have shares, hold tight. Things about to get real.