Direxion Daily Junior Gold Miners Index Bull 2X SharesArca
Description
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JNUG and its well-defined downtrend on the D1 Chart dating back from late-2020 has been broken and all indications support this notion including breaking downtrend resistance, closing above said resistance on the daily chart, as well as holding above that same downtrend former-resistance-now-turned-support for additional confirmation. For the doubters, however, JNUG closing where it did yesterday further adds to the bullish reversal conviction. Have been building a not-insignificantly large JNUG long position for past few weeks, with yesterday's price-action and closing levels making it obvious that, at least for now and perhaps continuing through an indeterminate amount of time over the next several days/weeks/months -- JNUG directional bias strongly to the upside with the bulls seemingly in control as of now. Holding near or above yesterday's closing price upon close of the weekly candle would only add to bullish sentiment. Remaining long JNUG!