Direxion Daily Gold Miners Be (DUST)

[Sgreg]

Here are the scenarios in my mind. If gold cracks $1264 then the gold chart goes with the bull flag and negates the H&S. From there I could see it finally going to that $1300 everyone already assumes is a done deal if it also got past $1280s. If that were to happen then GDX would go to $27. Correction for miners would then happen there.

On flip side if gold can't get past $1264 again then H&S is still kind of there but also there would be many failed attempts at breaking $1264. Miners are already priced as if gold was already $1300-$1350 basically so if gold even stays here in the $1250ish range then a correction in miners would happen here at GDX $23 I believe.

This is what I have been waiting for. Wanting to see if $1264 ever breaks. From there I can more easily see the gold and in turn GDX direction.