Direxion Daily Junior Gold Miners Index Bull 2X SharesArca
Huraian
⋅
The similarities to the move from last year is pretty recognizable. We consolidated around 7-8 and have moved up to 12. This year is a little higher than last year, but I see us in wave (3) of (5). Wave 5 should take us back to 17-18.5, filling the gap at 16.52 (highlighted by red arrow).
I hesitate to say it will be exactly like last year, but so far, the price action in the same ranges has behaved similarly, so go with it until proven otherwise.
Invalidate this idea if daily close below (2) (10.65)