This looks like a Higher low double bottom that has been confirmed by a move above the moving average and
The Stochastic RSI is in the oversold range and looks ready to attempt a bullish crossing.
We will likely see a rally to the last major resistance zone around 50 dollars.
Expect Gold to Soar into late Q3 2021 (would be almost precisely 10 years from 2011 peak).
2 years for Gold to run sky high (thus gold shorts would bottom in Oct 2021)
I will most likley sell my entire JNUG stake in Oct 2021 (from my big buy in late May 2019 when XAU was closing below 70)
ProShares UltraShort Gold (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of Gold bullion as measured by the United States dollar p.m. fixing price for delivery in London.
Look forward for further upside action (correspond Sell XAUUSD) in short-term.
Time horizon: 2 months.