The tension with North Korea helped the gold to spike to some nice highs, but the RSI indicates the reversal, also the "touch and retreat" with the upper resistance zone strongly implies we will see some great downside.
I shorted at 14/8 by buying some DUST.
NGAS didn't have a great summer, but the fundamental supports the continuation of the upside momentum.
I expect the chart will "breath" a little bit before the rally will continue, so today (15/8) we might see some profit taking but tomorrow the rally will continue.
NGAS broke down the support line (black dots), but finds support at 0.382 fibonnaci and some trend line I found.
I wouldn't like it to meet the 200MA, but if it will break down from that support- it might happen.
it will rally on the following days, that's for sure
fundumental seems weak, charts are confusing, but i'm long on that one. Hopefully it will support my estimated rally and go up, and it better be soon because if it will tag the 200MA it will cost a lot.
I updated the resistance trend-line. It tested it yesterday and I'm looking forward to see what it's gonna do today.
If we look at GOLD, it is not a good sign for a bearish move today in GDX
If GDX breaks today above the triangle, I will close the trade.
if the weekly bar next week will break the triangle toward it's upside, it will confirm the bullish momentum.
If next week bar will not cross the trend-line and will be red- it will be a sign for a continuation of the bearish momentum.