JNUG- Gold is Going Higher ( LONG)
Gold is rising and so also JNUG the triple-leveraged junior miner ETF which has components
of miners that have the most to benefit from rising. On the daily chart, price dropped from
a winter pivot high with a head and shoulders pattern into a trend down with a bounce off
the lows in early March followed by a YTD pivot high in mid April followed by a trend down
into the July 4th holiday where the reversal from the low into the current price movement
is supported by the MTF RSI indicator showing both the low and high TF RSIs crossing the 50
level. The zero-lag MACD shows the histogram going negative to positive simultaneously
with the K /D lines crossing from underneath and beginning to rise. Importantly the Lroentzian
machine learning AI indicator using a variety of indicators and factors printed a buy signal
earlier this same trading day. I will go long in a swing trade expectant of great profit. I can see
that price is approaching the long term mean VWAP and has crossed over the POC line of
the lower high volume area. The target of 43.2 is the POC line of the upper high volume
area confluent with the first standard deviation above that mean VWAP and also the neckline
of the H & S this past winter. The analysis is strong from the confluences and so
expectant of 15-20% profit.
of miners that have the most to benefit from rising. On the daily chart, price dropped from
a winter pivot high with a head and shoulders pattern into a trend down with a bounce off
the lows in early March followed by a YTD pivot high in mid April followed by a trend down
into the July 4th holiday where the reversal from the low into the current price movement
is supported by the MTF RSI indicator showing both the low and high TF RSIs crossing the 50
level. The zero-lag MACD shows the histogram going negative to positive simultaneously
with the K /D lines crossing from underneath and beginning to rise. Importantly the Lroentzian
machine learning AI indicator using a variety of indicators and factors printed a buy signal
earlier this same trading day. I will go long in a swing trade expectant of great profit. I can see
that price is approaching the long term mean VWAP and has crossed over the POC line of
the lower high volume area. The target of 43.2 is the POC line of the upper high volume
area confluent with the first standard deviation above that mean VWAP and also the neckline
of the H & S this past winter. The analysis is strong from the confluences and so
expectant of 15-20% profit.