Perfect short opportunity near term unfolding on GDXJ and JNUG junior gold miner etfs. As you can see, a nested set of opportunities are unfolding with a new target price of $43.5. Expecting this to happen EOB. Good luck traders.
Trade at your own risk with appropiate loss mitigation strategy.
"Patience comes to those who wait"
-HandofGOLD
...
JNUG THE 2X Leveraged Miners ETF have put on a show over past couple weeks with price climbing to the upside. A pullback is now expected.
TP 1 $99
TP 2 $90
Waiting for a clear break of triangle pattern around 1725 USD . Should the pattern confirm, the target sell price should initiate another buy at the breached neckline of a linked inverse head and shoulders pattern. JNUG AMEX:GDXJ TVC:GOLD OANDA:XAUUSD AMEX:GDX AMEX:GDX AMEX:NUGT NYSE:GOLD NYSE:KGC AMEX:BTG NYSE:AUY
Shorting GDXJ from $37.17 with a target of $27.86 to $30.00.
---------------
I believe that with markets potential to fall we will likely see another round of weakness, even if briefly, for the miners and gold in general. The potential for more profit taking or selling for margin have been greatly increased with the rapid rise in GDXJ over the past week and with...
Price has broken our trend line and touched a strong area of support around 1680s. We will be looking for sell entries only if price breaks and hold below 1680s. If price holds the current area, we can expect price pushing back to 1730s
If gold really wanted to dip to 1,600$ it would of been sooner because of Thursday’s reopening and positive drug news. But 1 thing we need to know is that numbers don’t lie! Unemployment is a major booster to gold and a falling economy. The market is being pumped by top 1% and federal reserve as more money is being printed and loans are being throw everywhere like...
It looks like the tons of volume that entered the market on JNUG last week is the only thing keeping the price afloat. Overall the stock is bearish, dropping from over $100 to single digits.
Short-term, it's getting ready to test the resistance (shown by the horizontal green line. We can see a bullish trend over the last few days, steadily making higher lows....
Cycles analysis indicates one more major deflationary move to occur. A selloff approaching for XAUUSD down to support levels near 1380, as well as a retest lower for gold miners. To be followed by a longer term major buy setup for gold. Let's remain objective and not get too excited just yet!!
