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JNUG

Jnug to gold "I dont think we are finished dropping yet"I was on vacation out of the country for the last week so I have not been able to update anything. But there really was not much to update. So to cut to the chase, it is my feeling that we are not finished dropping yet for gold. I am expecting gold to drop into oversold on the RSI 14 and also drop below the march low before having a legitimate bounce. So lets look at todays action. Gold burst up but miners barely moved. That should raise eyebrows and signal caution if you are looking to go long. If you are dead set on going long, what would it hurt to wait a little bit for confirmation. If you are wrong, then it will hurt a lot if my opinion is correct and Gold and Jnug drop. It appears to me that Jnug is working out its wave 4 and should provide a 5th wave soon. We have a short term bounce playing out from a small bullish divergence from last week. But there is a larger hidden bearish divergence that has formed and that should be respected. And as for gold, well, I am not going to repeat myself again, but I am waiting for it to drop to the longer term trend line which is in the mid 1170's at this point. There is a large gap that formed this morning by the way. There is also that gap above. I wouldnt be surprised to see jnug fill the upper gap before dropping but I am hoping to be spared the agony of waiting any longer. I am also expecting gold to drop thanks to the breakout in the broader market. By the way, I called that. GL on your trading
AMEX:JNUGShort
by SalN
15
XAUUSD - Daily and Hourly Gold Resistance to watchGold broke out of the pink somewhat diamond to reach near the bottom of the hourly channel. Then broke thru the 1215 prior low. Areas I'm watching for possible retest are: 1215 - Previous low we broke 1220 - .618 of Friday's drop Then expecting a continuation towards 1195 at next major resistance/support and bottom of channel followed by a correction before continuing down (which is more clear the current trend). Further support at: 1195 - Channel Bottom and prior low 1170 - Large Trendline
FX:XAUUSDShort
by AlphaDreams
Jnug to Gold "Crash next week"I know I have been reading a lot about the big move in gold. And everyone has been biased bullish except for a few. I am more beaish today than I was last week. The time for the big move is next week in my opinion. I hate having to wait like this but the markets are on their own schedule. So the reason that I am into the bear camp, aside from the fact that we got rejected a few weeks ago from the false breakout like I knew we would, is that the 50 DMA is looking like it will cross the 100 DMA next July 5th or 6th. That cross means something. And the big money will show everyone what that means. This dump will be fast and swift and Miners will get taken down with it. I am of the opinion that miners will make lowers lows than last May and even get lower than last December. I really think Jnug could get down to the $8.15 range before we get a bounce. The second reason that I am bearish for the big move is that we have not competed an Intermediate cycle low. And we are way past due. There is no more time left for this to have another daily cycle. SO this is where the cycle analysis helps and guides me. As you will soon see, when I am right about this, you will not rely on just Elliot Wave or on any other single thing. You have to include cycles. If you ignore cycles then you ignore nature. Cycles happen whether we like it or not. And nature seems to find a way to put us in our place.
FX_IDC:XAUUSDShort
by SalN
14
Gold short trade ideaI am shorting gold here with JDST and DUST. I believe the move higher three days ago over the long term green trend line was a false breakout. It brought the longs in miners back into the market. I expect the trajectory of the overlaid gold candles to come in play. GOLD formed a double top pattern, which usually means a reversal. TSI and %R are overbought and due to correct. The DC is another reason to support a drop. You can see we are on day 20. The previous cycles have been between 29 and 40 days. We are due to search out a low in Gold. USD looks to be strengthening, Japanese yen is also weakening, another signal to watch that follows gold. I think the timing is good here to go short.
FX:XAUUSDShort
by bhowe
2
JNUG - Fallen angel type of Momentum Long from $21.13 to $27.13Gold was forming a ascending triangle & hit its target & now seems getting ready for a decline. However the Junior Miners have been almost opposite to that & now seems getting ready for an upward move. Moneyflow is very strong. WE think it has good upside potential from here. * Trade Criteria * Date First Found- June , 2017 Pattern/Why- Fallen angel type of Momentum Long Entry Target Criteria- Break of $21.13 Exit Target Criteria- $27.13 Stop Loss Criteria- $19.28 Please check back for Trade updates. (Note: Trade update is little delayed here.)
AMEX:JNUGLong
by AcornWealthCorp
1
Jnug to Gold "FOMC meeting and Brexit talks" This is a tough spot for me to possibly predict any directional movement. While I do think that Jnug will drop at the beginning of the week and probably touch the $16.80 level with the help from gold dropping, the Fed decision is weighing on me. Just about everywhere I read it says that the Fed will raise rates on Wednesday. If they do raise rates then I think it is safe to say that gold will finally and truly breakout and stay up this time around. This would take Jnug up with it somewhere along the blue arrow. However,.....we have been having weaker data than was expected, and on around June 20th, the Brexit talks begin. Since there is a lot of turmoil throughout Europe right now, I am wondering if these factors will have the Fed wait on a rate hike this week. They waited last year right before the Brexit vote so maybe they will wait again. Another thing is ....on a purely technical analysis perspective, gold still has not completed a true Intermediate cycle low (ICL). The RSI on the weekly has to get to the oversold level and the medium term trend lines are supposed to be broken before calling a ICL. All we have had are two good DCL's. I am leaning bearish for both gold and Jnug for the next couple of weeks as I am thinking that the Fed does not raise rates. I also think that the weaker inflation index's may also keep the Fed at bay. On my Jnug chart I am showing the possible wedge a,b,c,d,e forming. It appears that we are dropping into the "d" and that would mean a small "e" pop. Usually when "e" is up, then what comes next is a breakdown. The BBands are still constricted. So a big move is still imminent. But nothing is for certain at this point. A few days ago I said it was safe to be short Gold. And I stand by that call until Wednesday morning. But it is probably safe at that point to wait on the sidelines to see what the Fed decides before going long or short for a longer term trade. If there is no Fed rate hike then I think that gold will finally fall into its ICL and get down to the 1165 - 1170 range before bouncing. I think that would happen in late June. That drop would tank Jnug and probably follow my red arrows. GL on whatever you decide to do
AMEX:JNUGShort
by SalN
23
Jnug to Gold "Breakout??!!" Well gold finally broke through the 5 year resistance downtrend line. But what matters is how we close the day and if there is follow through tomorrow. If this drops back under 1290 and we start tanking, then I would bet this continues to drop hard. This could be a false breakout designed to get everyone to go long. Do you doubt the big money does not know this? I am fairly certain that we are in the final 5th wave still. It has gone higher than I anticipated. Oh well. I am not going long because I believe this will fail. I am bummed that I got out of Jnug. If you remember, I was saying that I thought Jnug was going to test the red zone around $20 and then drop. I got out when I saw Jnug fail below a certain level. Looks like I took the fake out bait on that move . Oh well. I will wait. I am looking for Jnug to be at around $16 by Friday. If gold closes green and keeps running, I will wait for a pull back before going long. As I write this, there is a large bearish divergence on the RSI 5 and also as gold correlates with miners. The question is, will miners catch up over the next week or is this going to fall short again. I bet short. GL
FX_IDC:XAUUSDShort
by SalN
15