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

[THREE-DAY-TRADER]

well well, ok.
I think we mostly have a move now on short covering. The catalysts for gold to start moving up this early in June just are not there for support of higher price, so I personally think we may see a pull back yet after this short cover as this has been the movement pattern of gold-JNUG the last few weeks just bouncing around up-down in an area (so due for pull back if pattern repeats). Still chance gold goes to 1240 or less yet this month. If happens, I'll be buying for a trending swing trade over summer.
But keep in mind gold has possibility of gaining technical momentum above 1270 to 1300, so keeping an eye on that.