JNUG PULLBACK NEAR - BULLS TAKE 2X LEVERAGED LOSSES JNUG THE 2X Leveraged Miners ETF have put on a show over past couple weeks with price climbing to the upside. A pullback is now expected.
TP 1 $99
TP 2 $90
JNUG
NEAR TERM HEAD SHOULDERS ON JUNIOR GOLD MINERSLooking for initial target of $46.66 on AMEX:GDXJ AMEX:JNUG AMEX:JDST
GOLD Bullish Trade Scenario- 100 Point Jump is PossibleWaiting for a clear break of triangle pattern around 1725 USD . Should the pattern confirm, the target sell price should initiate another buy at the breached neckline of a linked inverse head and shoulders pattern. JNUG AMEX:GDXJ TVC:GOLD OANDA:XAUUSD AMEX:GDX AMEX:GDX AMEX:NUGT NYSE:GOLD NYSE:KGC AMEX:BTG NYSE:AUY
Miners almost a BUYA break out above the dotted cap line will be very bullish. We had a false break out before but I think were ready to go. A break above 90 is solid.
Short GDXJShorting GDXJ from $37.17 with a target of $27.86 to $30.00.
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I believe that with markets potential to fall we will likely see another round of weakness, even if briefly, for the miners and gold in general. The potential for more profit taking or selling for margin have been greatly increased with the rapid rise in GDXJ over the past week and with markets at approximately 50% retracement levels from the highs respectively. If you feel unsure about shorting gold in this bull market you are smart, this is for risk oriented traders. If you are not going to short you may want to take profits for the time being in hopes of buying in lower. I would not look buy back in until either lower prices or up trend is certified by price action as intact (potentially even breaking past prior high). One can short directly, via puts, or even through JDST. Happy trading!
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WEEKLY AND DAILY RSI DIVERGENCE (BEARISH)
WEEKLY CANDLE'S NOT LOOKING GREAT
DAILY CANDLE HAS GAPPED BELOW THE 200 EMA CONFIRMING A BEARISH BIAS
GOLD - Will we hold 1680 support?!Price has broken our trend line and touched a strong area of support around 1680s. We will be looking for sell entries only if price breaks and hold below 1680s. If price holds the current area, we can expect price pushing back to 1730s
A clear sign of a Falling Wedge! Gold is on trackIf gold really wanted to dip to 1,600$ it would of been sooner because of Thursday’s reopening and positive drug news. But 1 thing we need to know is that numbers don’t lie! Unemployment is a major booster to gold and a falling economy. The market is being pumped by top 1% and federal reserve as more money is being printed and loans are being throw everywhere like beads in a parade. We can clearly see a falling wedge being made here in JNUG and will surely surprise bears when the reversal happens towards the end of next week maybe Monday 27th. This was obviously a sell of for gold and miners, but long run speaking profits should be looking good. If you have any contracts that expire soon your pretty much on a high danger zone as the reversal won’t be happening in a day or two. A month long call up to a 3 month call should make nasty money if bought between today and next Tuesday as they should be at cheap cheap prices. Also, if you see the moving average or
Williams alligator indicated you will know that long-term Speaking as in 2 to 4 months gold should be 1,900$ pretty soon before August
Looking to Short - Technical Analysis of JNUG - Gold MiningIt looks like the tons of volume that entered the market on JNUG last week is the only thing keeping the price afloat. Overall the stock is bearish, dropping from over $100 to single digits.
Short-term, it's getting ready to test the resistance (shown by the horizontal green line. We can see a bullish trend over the last few days, steadily making higher lows. I'm expecting it to continue the downward trend because it's getting close to testing it's previous top, but those who are taking a more optimistic position should at least wait until it closes above the resistance before taking a long position.
Holding my short positions unless the resistance is broken
Gold corrective leg down?$gdx $gdxj $nugt $jnug $jdst $dust $slv $gld I'm bullish on hard assets- watching for possible leg down. A higher high will invalidate this.
GOLD (XAUUSD) preparing for MAJOR SELLOFF before true breakout!!Cycles analysis indicates one more major deflationary move to occur. A selloff approaching for XAUUSD down to support levels near 1380, as well as a retest lower for gold miners. To be followed by a longer term major buy setup for gold. Let's remain objective and not get too excited just yet!!
over 10 Billion came into Bitcoin in less than 24hrsalso creating a bullish bull flag on 1hr based on the money flow injected
$JNUG Primed for a Dead-Cat Bounce?JNUG is the levered junior gold miners ETF. This has been torched from $100 to under $5 in a matter of weeks because these are heavily indebted companies that can no longer mine for gold because of virus concerns even as the price of gold surgest to test multi-year highs. But even a brief reprieve could produce big gains if well-timed.
GDX just got my attentionI believe the miners are undervalued and stand to do well moving forward. Gold and silver have shown their stability through history and remain solid in my opinion. I see a lot of potential in the miners.
(renko blocks are not playable so I'l have to post updates below)
Looks legit, anyone still in $DUST ? - $GLD $NUGT $GDX $GDXJ Gold miners are clearly worthless now that gold is down 10% from the high.
Does anyone know who planned this event?
