Money for nothin' and your chicks for freeLooks as though the Gold to Silver Ratio has peaked just over 100 and the popular pairs trade of Long Gold and Short Silver has run its course..
Back Up We Go... See Chart for Details and Target Price. Should Bernie Sanders upset Biden tonight, it would justify a more explosive move to the upside.
AMEX:JNUG AMEX:GDXJ AMEX:NUGT AMEX:GDX TVC:SILVER CURRENCYCOM:SILVER FX_IDC:XAGUSD AMEX:SLV NASDAQ:PAAS NYSE:AG
JNUG
SILVER TO CATCH A BID Prepare for Stagflation in Global Economies
See Chart for details on TVC:SILVER price forecast. Multiple bullish Technical patterns forming in silverprice. Falling wedge to push Silver into double bottom then to become extremely bullish.
Lots of fundemental support being established for Silver.. Expecting a monster rally in FOREXCOM:XAUUSD soon as another Insurance driven Financial crisis is peaking its head around the corner.
Wonder how many old folks have AIG life Insurance? So much more to worry about right now but just a thought.
Recomended articles regarding the unprecedented state of risk with regard to the current fed and monetary environments..
www.cbsnews.com
thehill.com
#gold consolidates in $1630s miners lag min 10% $GDX $NUGT $DUSTIt is uncharacteristic for the miners to lag in this way, usually, it goes the other way around.
The explanation is simply that the S&P is near all-time highs and has signaled repeatedly to short the gold mining companies and ETFs.
GDX resistance in the $31 region is not likely to hold this time. Gold miners are seeing all-time record profits due to gold reaching new all-time highs in every currency but the US dollar ( XAUUSD ) and Swiss Franc ( XAUCHF .) Most mining costs are incurred in other currencies where gold has been hitting all-time highs repeatedly for many months.
Shorting of the miners are will be bad for business as these levels are pierced.
Gold Rally UnderwayIf you look at the previous gold rally from 2001 to 2011 you'll see a similar pattern of the 50DMA crossing below the 100DMA and then a few days/weeks later rising above it again and rallying to new highs. I believe this is what we're seeing right now. Gold is going to touch $1700 in the next rally, or get VERY close before correcting. Let's see how it plays out...
GDXJ long ideaTo me I am finally getting a buy signal on miners. GDXJ has been supported by the 50 sma and is getting a move higher. The upper trend line was crossed, BUT we didn't close above it yet. I do see a cross of the 8sma and 13ema which is a buy signal. I had a buy signal on AXU yesterday. Pretty close to lift off.
JNUG – Looking to Breakout of WedgeChart Details
Long consolidation wedge ready for breakout. Caution with gaps above and below.
World events and monetary policy tell me this goes higher.
Next Daily trend is Bullish. Weekly trend already Bullish and turned up.
Weekly RSI trend is our guide for stop.
Price target $100
Stop $74
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#Gold resistance is now support $NUGT $JNUG $GDX $GLD $UGLDLook for convergence on the ADX and DI indicator to find the next top and consolidation level. This will likely happen on the upper edge (blue band) of the pitchfork.
Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.
JNUG - Short Term BullishI AM NOT IN THIS TRADE
Per request, here is an update for JNUG
I do think that gold and gold ETF's will turn bullish if general market turns down.
Each person has their own preference for Gold ETF's (if they use them).
I prefer GDX for price and pattern.
Chart Details
Price broke out of blue wedge and then yellow triangle as expected. See last chart.
If JNUG breaks most recent ATH around $100, this can indicate a new pattern.
More analysis/data is needed at $100 to see how price reacts.
Let me know if you need update later. I will help if I can. :)
Entry Options
If I was already entered, I would hold and would be watching $110 for possible exit, or stall of price. Should go up to fill gaps.
If I am not entered, I would look to enter long at lower gap fills or return to 10WeekMA.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website www.moneypatterns.com and have updated my name previously jbird7839. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish
Previous JNUG Chart
$JNUG Is A Great Way To Play $GLD #GOLD ReboundWe have been bullish on $GLD and gold miners for the past year now. We believe the current pullback represents a great buying opportunity and $JNUG is a great way for aggressive investors to play the Gold bull market.
Based on just fibonacci retracement, we can see $JNUG easily bouncing to $63, $70 and $77 in the short-term. Although, we still believe the highs are not in for $JNUG or for Gold and Silver.
Direxion Shares ETF Trust - Direxion Daily Junior Gold Miners Index Bull 3X Shares is an exchange traded fund launched by Direxion Investments. It is managed by Rafferty Asset Management, LLC. The fund invests in public equity markets of global region. The fund invests directly, through derivatives and through other funds in stocks of companies operating across materials, metals and mining, gold, silver sectors. The fund uses derivatives such as futures, swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. The fund seeks to track 3x the daily performance of the MVIS Global Junior Gold Miners Index. Direxion Shares ETF Trust - Direxion Daily Junior Gold Miners Index Bull 3X Shares was formed on October 3, 2013 and is domiciled in the United States.
The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the MVIS Global Junior Gold Miners Index.The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index includes companies from markets that are freely investable to foreign investors, including "emerging markets," as that term is defined by the index provider. It is non-diversified.
As always, trade with caution and use protective stops.
Good luck to all!
USLV: Set to Hit ~$174 by March or April of 2020As precious metals have slowly gained momentum late this year again, USLV is part of my two step post of updating people on what JNUG and USLV will look like in the coming months.
On JNUG, I believe 130 is possible by Q2 2020. Consequently, I see big gains in 2020 for Silver as well and I believe it is very possible to see USLV in the $165-175 range by March or April of 2020 before correcting off this level.
Neither will get to these levels instantly, but the time-frame is roughly 3 months.
Remember, do not forget about Platinum as Platinum will surge "bigly" in 2020. I invite people to look at Impala Platinum for huge upside potential.
- zSplit
Reversal of $DXY may have put a floor on #gold $GLD $UGLD $NUGTThe otherwise bearish gold chart may not touch down on $1400 to $1420 as many expected it to.
Trade wars and tariffs along with the debasement of all fiat currencies may trigger the return to higher gold prices. Gold bugs who have been frustrated again and again over the last 5+ years may now see another large scale move as short positions are covered heading into the end of the year. The long-awaited event may be at hand.
Goldman Sachs says gold is going to $1,600
www.kitco.com
Here is what that might look like. Otherwise, look for support around $1415.
JNUG - Daily View - Part 2 of 2Someone asked me to chart JNUG . Here is the outcome.
Please see the JNUG - From Outter Space - Part 1 of 2 chart at bottom of page for longer view.
I am not currently in this position. THIS IS NOT READY IN MY OPINION - BUT CLOSE
Daily view confirm bullish pattern correction incoming.
Blue wedge is bullish pattern by itself.
RSI trend confirms breakout should occur.
Trend filter dots confirm bullish trend is next.
If I were playing this trade, I would wait for price to fill tip of blue triangle.
If it breaks into bottom gap, add to position partially.
If further breakdown into far bottom gap, add rest of entry.
If no breakdown into bottom, your choice to add at blue wedge breakout or wait for confirmation at yellow wedge tip.
Further analysis is needed as time progresses to see possible outcomes.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
JNUG - From Outter Space - Part 1 of 2
JNUG - From Outter Space - Part 1 of 2Someone asked me to chart JNUG. Here is the outcome.
View is 9D chart.
I am not currently in this position. THIS IS NOT READY IN MY OPINION - BUT CLOSE
We see a downtrend of blue patterns inside a yellow wedge.
The yellow wedge overall is bullish with the bottom support being upward sloping.
Inside the yellow wedge at the point, are two blue wedges.
These two blue wedges are bullish in formation. Current price action suggests bullish breakout.
There are price gaps above and below current price action.
Gaps above and below price means we need to see a clear breakout before entry to either side for confirmation.
RSI trend is very interesting.
We have predictable pattern currently with downtrend possible for next few weeks.
Appears to be entry upcoming based on RSI pattern.
Trend filter dots confirm bullish trend is next.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.