Direxion Daily Gold Miners Be (DUST)

[str8_chuter]

Look at the big picture here.

$GOLD weekly chart broke decisively below the declining wedge formation in place for the last year or so. Very bearish.

Secondly, $USD broke out decisively to a three-year high. If people are wondering why, it's not that difficult. What other major currency looks better?

Abe wanted the yen at 111 to the dollar. He will get it and then some. The yen drops to at least 120 to the dollar.

The euro is in decline because Europe is broken and in recession/depression whatever you want to call it.

The Canadian dollar and Aussie dollar are both headed down with the ongoing crushing bear market in commodities.

So in US dollar terms, $GOLD is headed much lower in the next year. Miners that do not hedge production prices (which includes most of the majors) are in for a whole bunch of hurt.