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

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FWIW just some thoughts on JNUG patterns I try to watch for.


I like to call a full candle outside of a trend line a signal to watch/not buy. My buy trigger is a confirmation candle at least 3 candles later and .10 above or below the signal candle.

There is a saying that a failed buy signal is often a sell signal and a failed sell signal is often a buy signal.



Looks like we had a bearish flag continuation pattern as shown in this link

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:flag_pennant_continuation

Some targets to watch if it gets more selling pressure


Looking at the first pattern break it still gives us a 13.61 target.
This can all change if we get a break above the current consolidation trend line with a signal and a trigger at least 3 candles later. If that happens, then we will have to re-evaluate the targets. But for now, this is what the chart suggests.