Going long here with the inverse fund JDST. I believe Gold is at a high and will fail shortly. Gold can't seem to make new highs, and the miners have been weak for weeks. With GOLD pushing higher and miners losing value, its a typical sign of a top. JDST could drop and retest the lows, but I doubt it. Going higher.
Nota
Taking a look at JNUG. The purple arrows indicate GOLDs previous double tops. Both of the previous times miners dropped. The first set of double tops, the miner drop was short lived and reversed, but notice that the price of the miners, JNUG in this case was finding higher highs as gold moved back to the 2nd top. We aren't seeing that in the last two times. So, I expect more downside for JNUG. I am currently looking to buy more JDST IF we get a drop to mid $13.Nota
Everything I read says that gold is on day 22, and has been going 28-33 days per cycle. Its not wise to be long. All the analysts are in agreement. I still hold JDST. I am waiting for GOLD 1280 to buy more. Looks like we hit my target overnight. I will buy more at open. See the gold candles below, they are from the blue box on the left. Same double tops (purple arrows) and now we have reached the top. I am expecting a week of lower prices in miners. Nota
Sitting at the long term trend line, "Resistance" I am expecting a drop in GOLD. The cycle is played out. I believe we will be on day 24 Today and Gold has been running 28-33 days lately. Already up over 10% in our JDST trade so we have cushion. A strong move higher above the trend line will get us out of the trade. Fingers crossed that the analysis is correct.Nota
since 4-12-17 Gold is up $19 and JDST is up 20%Nota
JDST continues to work well, even with days like Yesterday where gold moved $10 higher, the miners didn't give back. Today the slide continues. I have the 38.2% fibo as a target for gold. I will watch for gold to become oversold on the daily chart. We have seen gold stay oversold for weeks. Enjoy the ride. Dagangan ditutup: sasaran tercapai
Sold the last of my JDST holding today. Still think we see gold lower, but a great trade. Moving on.Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.