Direxion Daily Gold Miners Index Bull 2XSharesArca
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After a real beat down its finally time for NUGT, JNUG, and all the miners to shine again. An 88.6% retrace of the last move appears to be the turning spot. Consolidation looks good, RSI ad %R are oversold and moving higher. TSI is crossing higher. Look for a 50% move higher.
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Gap down, then consolidation, then gap up =Island reversal. Could be forming. That would be bullish.
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Island Reversal still in play. Need a gap up at open. Double bottom still holding. I bought some JNUG Yesterday, set stop at Yesterdays low.
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Risk/Reward. Set stop at Yesterdays low.
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US Dollar (DXY) getting lower highs. Looks to want to continue.
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Notice how the previous bear flags formed, then we would have days (weeks) of down side, then another bear flag, etc. But now, we are having a base form. It doesn't look like a bear flag. Its not a rising channel. Its a flat channel. Expecting big things soon. Reversal Island still in play. We will soon get a gap up one morning and be off to the races.
Hope to get back in on the pull back.