NUGT and the other miners should move lower a few more days, then look for a bounce off the lower trend line at around $142.
Note
NUGT broke below the trend line this morning. I will wait a day or two to take the trade, because the US Dollar is starting to bounce. TIming wise we are on day 19, so 2 days should be good timing.Note
NUGT could be playing out to a Harmonic pattern. In which case it would reverse higher at the 88.6% retracement. If not its going to be a double bottom at $117. I don't see anymore downside being so late in the cycle.Trade active
Buying NUGT here this morning. Dollar finally taking a dive.Note
Reverse split messed up the chart. But i did take the trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.