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NUGT nearing reistance

Short
Direxion Daily Gold Miners Index Bull 2XShares (AMEX:NUGT)  
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AMEX:NUGT   Direxion Daily Gold Miners Index Bull 2XShares
NUGT XAUUSD DUST
6
2
nugt xauusd dust
Former uptrend support moving average for NUGT should function as current downtrend resistance. The next leg of the downtrend should extend significantly below the 2016 low. IMHO, a reverse split will be required. XAUUSD is also facing technical resistance. All of this should be good news for DUST.
Comment:
Updated value of target resistance moving average in question to MA987 on 39 minute chart.
snapshot
Comment:
In the downtrend that began in July of 2016 XAUUSD has retraced 38 percent. The downtrend should resume as should the downtrend for NUGT.
snapshot
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