NUGT Daily 02/24/2014 Consolidation Appears Complete

After climbing up near the measured move target price based on the pennant breakout, NUGT went into the expected consolidation, filling the gap in the process. Now that this consolidation appears to be complete, I am looking for NUGT to climb up to the 200MA in the $57/$58 area. Could take a while but getting to that level would indicate that what to some may look like a long overdue bounce is actually the beginning of a longer term bullish move. IMHO, of course.

GL