Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG)

[DD_dempsey]

Marketwise and ALL - with JNUG- DD and outlook

It is my opinion, that we will see a large degree of volatility on the price of gold but more pertinent to JNUG - the chart indicates that we potentially have a double bottom or a "W" formation and the move to $8 seems very near.

I have been adding 6.9, 6.4, 6.6, 6.47 -- avg 6.55. Will see tmrw before midday if an intraday pullback presents a sell and then rebut at the bottom of a dramatic intraday price of gold.

Target is $8.30 short term. It's way too volatile and outside factors like The decision In India to ban gold places additional constraint. Still - anyone who saw gold ETF 3x last year at this time--- realized perhaps the greatest gains in their portfolio first 6 months 2016.

Looking forward to another run but we may retrace once more before that happens. I will ride this for 30% estimate and then determine whether to unload or hold. Today's candle on almost every gold chart was the healthiest in 4-5 sessions. Tomorrow will be very telling here.