Basing and Boooooooooooooom
Bearish Head And Shoulders Pattern on JNUG. JUNIOR GOLD MINERS TP 4.83 JNUG AMEX:JDST AMEX:GDXJ
JDST looks like it will touch/surpass its previous high at $55. If Gold continues to decline towards 1220, JDST could easily reach $80.
$nugt $dust $gdx $gdxj $jnug $jdst $gdxj Potential for more pain for miners before a powerful run up
$gdx $nugt $dust $gdxj $jdst $jnug bearish gart (xabcd) I'm bullish on gold long term but I don't like this. CAREFUL NOW
if you have any insights of my count please tell me
I like the look of this chart of DUST. I bought this morning. It's always risky holding over the weekend but its a small position, relative to all holdings. GOLD is breaking below $13000 looks good for a pullback. Cycle wise we are due.
Gold is looking to retrace back to around the $1300 psychological level. This is right around the .786 fib level of the current move. Gold is still in an uptrend overall, and may just be in some need for slight consolidation. Also, with the dollar index showing slight signs of strength, this may push the gold price slightly lower.
I believe gold will retrace to the next fibonacci level, and may possibly bounce from there or retrace further to the .5. a small dead cat bounce was observed directly off of the first fibonacci level, with strong sell volume present.
RSI, STOCH, channel and XAUUSD prices in line for short term swing here
I am expecting gold to move into its final drop and possibly bottom in February. Then we should get a very strong move up similar to the 2016 run. I do not see the start of the bull gold market. Just a large strong C wave up to above $1400. And miners should also make a similar move as the 2016 run. GL
In relation to all my predictions, I believe people will panic buy JNUG as a reaction to -13% drop we might have on Monday, Oct. 15th. In my opinion and not financial advice, I would sell it and go JDST after taking profits at the ~48.9% pop.
Well I havnt done gold for a while now but it appears to me that a nice setup to go long is presenting itself. This ICL has been stretched but that just makes me more confident that I have a safe Jnug play here. I am not about to try to guess what kind of wave count we are in. However, If we have started our move down into the larger C wave then this move up...
Time to play JNUG. Till upper level gets hit.
20% Potential Good Deal Zone Green light on MacD 3-5 Day Swing Trade Support/Resistence: 70 / 91 Entry/Sell: 75.5/ 84 Stop Loss: 74
JDST Day Trade Potential Long term it is also looking like it's about to reverse back up 20% over the few days.