JDST trade ideas
JDST bullish; Gold prices likely bearish given US-China deal?JDST looks to be bullish, making higher lows in the recent weeks. Couple reasons why I think it's on the uptrend:
- Phase one of the China trade deal concluded bringing some stability to the world economy; generally this should reduce the demand for gold, lowering prices and increasing JDST, a gold miner BEAR.
- Gold prices have a very strong resistance around 1540 from May of 2012. It's already touched that resistance late September/early August this year and would need some serious momentum or world news to break that resistance, such as the US-China trade deal falling apart. I believe it's more likely that gold prices are on the way down, making an ETF like JDST increase.
What do you think? Please leave a comment with your thoughts!
JDST sending signals?Pending a breakout of the presented wedge you may be able to correctly time when to bet against gold once more..
I wouldn't be too confident that this pennant wouldn't collapse out the bottom which is why i recommend waiting for the fall wedge to break out a bit, but anywhere by the value box I've drawn could earn you some easy trades.
Goodluck
