GDX, NUGT, GDXJ, JNUG were in a sell off mode on Friday. Not only the dollar is decoupling gold but goldminers also.
This is strange... While gold is printing a good rally miners are printing a bearish pin bar.
They should follow gold .
DUST is the inverse fung of NUGT I post this chart because I know a lot of you are in DUST and JDST.
Next week will be very important. It will give us the answer for DUST also...
I still think that we have have one more leg down in GDX,GDXJ,NUGT,JNUG and one more leg up in the inverse funds (DUST, JDST).
Watch the RSI. It's leaving overbought levels. In the past this move always predicted that ugly things are coming.
This also supports my idea that gold's rally is a nice artificial move.
Do the big players know something what we don't??? Is this the reason they were selling miners after the breakout from the flag instead of buying more as gold is in a rally mode???
Next week will give the answer.
I'm not going to short NUGT just set the idea as a short to show the direction.
This is strange... While gold is printing a good rally miners are printing a bearish pin bar.
They should follow gold .
DUST is the inverse fung of NUGT I post this chart because I know a lot of you are in DUST and JDST.
Next week will be very important. It will give us the answer for DUST also...
I still think that we have have one more leg down in GDX,GDXJ,NUGT,JNUG and one more leg up in the inverse funds (DUST, JDST).
Watch the RSI. It's leaving overbought levels. In the past this move always predicted that ugly things are coming.
This also supports my idea that gold's rally is a nice artificial move.
Do the big players know something what we don't??? Is this the reason they were selling miners after the breakout from the flag instead of buying more as gold is in a rally mode???
Next week will give the answer.
I'm not going to short NUGT just set the idea as a short to show the direction.
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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.