As a swing-trade
Price hit target level Monday.
Seeing positive divergence forming in CCI and above rising 50-MA.
If Bulls take over, they will want to bring it back to the green channel line.
Consider going long using UGLD.
** Trade what you see, not what you think.
The last three days we had hit almost equal resistance level.
Waiting for a decisive move either above the green channel to go long or below the red channel to go short.
Since I am seeing a negative divergence forming on the CCI, my bias is to the downside.
Let the Market tell us which side of the trade we should ...
For a short term swing trade, buying DGLD because it has closed below the lower red channel area with above average volume. Potential downside target is at 126.00 area. If things get really bad for Gold, it can head down to 123.00 area in the next several weeks. Stop loss will be a close above the red channel ...
As a short-term swing trade, I am shorting GDXJ by purchasing JDST.
It closed below the red channel and has a potential downside target to fill gap.
This is going against the trend (above 100-MA), so use half position.