Bearish for JNUG if the AD breaches the .618% fib level
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Monitoring GDXJ weekly chart. Will know Tuesday if it holds true to my bearish sentiment.
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GDXJ sold off a little into the close. The 1hr chart also confirming a bearish head and shoulders pattern
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AD on 4hr chart showing potential bear flag watch for a potential break of the .618 fib level
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I'm watching the 1hr Divergence on XAUUSD chart. The AD needs to get over the .382% fib level to continue any type of bullish activity
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watch GDXJ 30min chart its path/direction will dictate where gold and JNUG go today
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watching for a 1hr Cup/Handle set up that could happen on GDXJ
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The potential for bearish 1hr cross still exist.
GDXJ either creates 1hr bull flag, dips to see if support holds to form cup/handle, goes below $36 to erase all bullishness
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GDXJ weekly chart I see a bearish AB=CD pattern unless there is a close above $38.32, not sure if a gap up is likely. But I'm nimble in my trades
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4hr chart of GDXJ *** reference point *** for 3/23/17 although GDXJ dip tonight, will need to confirm one of the 3 options I mentioned before close. Two possible bullish continuation patterns forming (c/h or bull flag) other scenario is a complete breakdown below $36.. Brexit is next week. I'm not ruling out the bearish AB=CD pattern on GDXJ which is possible
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***last reference point*** here is where it gets tricky trading gold/GDXJ will be watching both over the next 24hrs. I'm a buyer of GDXJ if it closes above $38.32 or gaps up at that level. will see see if gold can hold $1237, it may test 30min support level also..