Wave i was strong enough to break the resistance line only to fall back to ii. It looks like a false breakout but it's right on plan. Look for a pullback to the 24 range.
AMEX:GDXU As illustrated on the one-hour chart GDXU has reversed a downtrend as indicated by the EMA crossover and so on. Support and Resistance lines are shown. Price is well below the SMA200 and thus undervalued as compared with historical data. I see this as an upside 30 % long setup with reasonable risk. Once the trade progresses perhaps 10-12% in price...
Let’s get long on gold. $GDXU is a triple mover on the movement of beloved ETF GDX, Vanguards well known gold miners fund.
Anyone notice gold gains have been getting harvested? and not held.