DUST opened with a gap (hard to see on the picture if you ZOOM it's there) and suffered a -18.77% decline.
It was a capitulation. I think the thing what is happening in the miners is very important for gold. Miners will have an intermediate decline in the following weeks. And the reverse fund DUST will rally like crazy.
The intermediate lows in DUST are always printed with this pattern what we saw on Friday:
gap open , record volume, capitulation. In 2-3 days a big reversal was coming.
I'm using Fibonacci to predict how far this rally will go: I'm looking for
at least a 23.6% correction to 5.95. (447%)
Most likely a 38.2% correction to 8.82. (664%)
But the 50% to 11.14 is not out of the table (844%)
If it was not the bottom we are very close: 1-3 days. So I'm still holding my DUST position.
I'm not going to sell my shares to the banks at the exact bottom.
It was a capitulation. I think the thing what is happening in the miners is very important for gold. Miners will have an intermediate decline in the following weeks. And the reverse fund DUST will rally like crazy.
The intermediate lows in DUST are always printed with this pattern what we saw on Friday:
gap open , record volume, capitulation. In 2-3 days a big reversal was coming.
I'm using Fibonacci to predict how far this rally will go: I'm looking for
at least a 23.6% correction to 5.95. (447%)
Most likely a 38.2% correction to 8.82. (664%)
But the 50% to 11.14 is not out of the table (844%)
If it was not the bottom we are very close: 1-3 days. So I'm still holding my DUST position.
I'm not going to sell my shares to the banks at the exact bottom.
Note
Watching DUST very closely today and tomorrow.I'm looking for a reversal candlestick with new record volume.
THat will be the sign for the reversal.
Note
If gold collapses tonight DUST will open with a runaway gap.Which will not be filled...
If you want to be positioned today is the time.
So please don't ask me 2 weeks later is it good buy DUST at 4$?
Note
We will have record volume and the opening gap is filled.Hopefully daily maximum close.
This is bullish.
Note
Almost the same volume as on Friday.Retail traders are out , smartmoney is in.
That's the way love goes.
Note
DUST is in +10%. Not bad.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.