Key level in US dollar here... GDX: Limited upside until first resistance level. Longing JDST here without planned stop loss... Miners are pretty overstretched with JNUG +800% over 4 months.
I've been following GDX for a while. Bulls are trying to absorb supply again. If so it is very likely going to test longer term resistance likely established in 2014. I remain bullish above $23 buck
Watching to long gold plays and/or short $dust.
Gold is approaching "Market Structure" Time Is In. Watch for panic flush into potential areas before the turn.
DXY just ended its bear cycle taking the shape of a running flat pattern.
Going to test 50 day and then 200 day Long $DUST
Several supporting trendlines that helped me determine that $NUGT will be bullish in the next two days. Please comment on what you think!
THIS IS AN UPDATE FROM THE LAST POST GOLD IS FOLLOWING THE MODEL OF THE "PATH OF PRICE" WATCH FOR LATE LATE MAY THROUGH MID JUNE... BREAKING DECISVELY ABOVE 1335 NEGATES THESE PATTERNS
Whose buying NUGT? I think that gold and miners are very over extended would you buy NUGT now? It could make you the guy holding the bag when it opens 20% down. Its just too late in the cycle to buy NUGT here. I'll wait for a pullback to get in. Buy DUST? Not sure I would do that any time soon. Too hard to tell. If you listen to others shorting a baby bull is a...
I believe that GDX is stuck in a sideways trade zone. It will need to break through and close higher than 20.93 to signal a break upward momentum and possibly the start of a new trend. It could end up going as low as $12.90 in the next few months. If it breaks 12.90 it would signal the start of a new downward trend. Lots of turbulence right now making it hard to...