jnug to gold
well price dipped below the major today, signaling that sometime in the not too distant future it will drop below it. But in the meantime, I believe that today was the bottom and reversal day. Price is climbing in After Hours especially. So I am looking for $18.30 range for tomorrow and then $20 range for Friday. I am hoping that momentum will continue until next Tuesday to the top of the for that day which should be approximately 22.40ish to $22.52, (where I will sell no later than Tuesday so my funds will be settled for the Friday Oct 7th report) before dropping back down to $20 range. (however, just like on the 12th -13th, it doesnt have to continue, and could drop a little bit). Maybe if I am lucky, price will push just past the upper (maybe 22.60's) to give the same signal that todays brief push below the trendlind did. I am actually crossing my fingers that after Tuesday, Price drops down to the blue again. If price drops to that , I will buy Jnug at that point, and rely on the report to be negative, (good for Gold ), and shoot up to the top of the broader before settling for the day (7th) around $22 to $22.50 range. After that, I think the blue arrows tell the tale for Jnug price movement, hoping for price to reach $26+ by the 12th or 13th before dropping to the next price target for that Friday.
Obviously if any of my price targets change I will adjust it ahead of time. The further out we go, the less accurate they are. AS you can see, the price movements are much broader in November through March 2017. As time passes I will update the charts with my belief of price movements for that week.
I don't think that even today's low is the LOW yet. At this point the TL already got compromised two days in a row. I don't think even the $15.20 support line would hold. Gold seems to mean revisiting the $1,295-1,300, only after which ( I hope) it'll start rallying again. And it'll obviously drag miners and JNUG with it. If you discover any strong support lines below $15.20 which are within JNUG's reach over the next few day (say, Monday as a target date), I suggest that's where we should be focusing our attention to catch the bottom.
Regardless of the market action, appreciate your analysis.