JNUG testing trend line
Updated
JNUG made a bullish trend line break yesterday in response to the dollar's bearish trend line break. Now JNUG is testing a second trend line, which it has so far failed to decisively get across. Keep an eye out for either a move across the trend line with good volume or a bar close above the line. I expect that JNUG will successfully break this trend line soon, but there's another one close behind that will provide stiffer resistance. If JNUG gets across that second trend line, it will be hugely bullish for gold and we could surge back toward previous highs.
Note
We ended the day above the trend line!
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