Symbol: DUST Position: +200Long Entry : $7.69 TP: $10.5 Stop Loss: $6.68 (1.5x10DAY ATR) R/R: 2.47x Notional Risk: $202 Technical: Trend reversal Multi-day RSI divergence. I'm looking for GOLD prices to tuck back under 1500 the bleed off to July prices. Running a tight initial stop as I'm a bit late to the party.
Gold is holding up quite well today despite the strong dollar and the weak euro. One could think the reason because gold is ignoring the dollar strength. I think gold is just propped up to let smartmoney exit their miners positions ahead of the holiday weekend. The dollar will break out next week and the euro is heading lower . This will move gold into...
Dumps and climbs 50% Fib.Volume looks strong and RSI has room before hits resistance. We can re-evaluate future target once we hit resistance. US and China trades news painting good picture.
Gold/miners to pull back? Long term bullish but a correction should be welcomed by bulls $gdx $gdxj $nugt $dust $jnug $jdst
W bottoming momentum in weekly in oversold area $GDX, $GDXJ, $NUGT
Gold is working a continuation triangle, implying a move higher. At this point spike to 1550 is likely, but I still think we're due for some sorta temporary top
GDX is still 12% below its 2016 highs, despite Gold having already surpassed its 2016 peak of 1375 by roughly 5%. On top of this, the GDX having more exposure to unhedged miners should result in GDX out-performing the HUI hedged senior miners in a bull market. This is not the case, as the GDX is actually under-performing the HUI. Highest probability assessment...
Fed's policy bullished both S&P and Gold. But for now, gold might need to take a breathe before going higher. RSI is in the overbought area. Two exhausted candlesticks are also appeared. We can short the gold by watching those resistances and supports. 1430 would be a strong resistance, and the green bars are strong supports.
I'm anticipating the FED not cutting rates - this will cause other central banks to cut, which will force the dollar $DXY up and gold down. Chart looks like a double-top is forming with momentum sliding. Again, the only way gold goes up if we start war with Iran which last week looked like it was going to happen. Doesn't look like most of the globe is accepting...
Basing and Boooooooooooooom
RSI reaching higher highs @70. How long can we keep it overbought? DUST is reaching SMA(100) which has been the on a YTD downtrend. Hopefully we can brake through the 25$-26$ to change the direction of that main trend.
DUST looks ready to fly. Wouldn't be surprised if there is a small, short-term pull back, but I also wouldn't be surprised if DUST just starts shooting straight up. All depends on how quickly GOLD falls to 1220.
$nugt $dust $gdx $gdxj $jnug $jdst $gdxj Potential for more pain for miners before a powerful run up