NUGT/DUST 60 Update…
NUGT
Bull Flag break out after the gap fill ?…
Close enough for a back test and a gap fill is not a prerequisite for a move up…
I would feel better if the TRIX were to reset and BULL cross; so a gap fill might be in order…
Do not like to trade against the TRIX on the 60 minute chart…
“Drop and pop” action in the AM to complete the potential BULL flag?
DUST
Failed IHS conveys weakness…As does the rest of the DUST move the past 3 days…
Going back to test the lower trend line of 4 months…
Moment of truth should be tomorrow…
DEAD CAT BOUNCE WAS SHORT LIVED AS MOST…
From my standpoint at this point and time, the odds are NUGT will prevail…
RIC Daily really conveys the BULL argument…
BACK TEST of the RSI 5 and 14 trend lines is BULLISH…
TRIX ready to break out of downward channel…
RIC price action consolidating right below pink diagonal upper trend line ready to breach out and up of long term descending BULL WEDGE…
Thanks Eagle, good charts.
One minor point I’m not sure of but I thought I’d mention anyway. M/M wage growth is expected to come
in strong on Friday, which would be dollar bullish and PM space bearish:
http://mam.econoday.com/byshoweventfull.asp?fid=477415&cust=mam&year=2017&lid=0&prev=/byweek.asp#top
If this were to transpire, that *might* create the backtest you’re looking for.
Just an idea.
(Eurozone inflation numbers are out today though and could come in stronger and cause more PM bullishness in the ST.)
Thanks, remain flat till I can see some sort of direction…More focused on the potential RIC break out…