NUGT needs to “prove the move”…
We now have enough points to create potential trend lines…
The MACD curling back up above zero is bullish; especially when I see a potential BULL flag set up…
Short term indicators: stoch and TSI with early bullish signs…
The 13/34 EMA is still in BULL mode…
Back test of trend line which was previous resistance denoted by the black arrow…
I remain flat but will pounce on NUGT if the flag is breached to the upside in the AM…
Could be another gap and go? Just speculation…
NOTE THE ALL IMPORTANT PURPLE LINE EVERYONE IS WATCHING…
THIS COULD END UP BEING AN EXPANDING BEARISH WEDGE COMPLETING AT THE MULTI WEEK PURPLE TREND LINE…

GDX Daily…