Direxion Daily Gold Miners Be (DUST)

[Hei5enberg]

What a beautiful downtrend today in GDX and noted that since July/August last year GDX don't touch RSI below 30, so happy birthday to GDX under 30 RSI....hehehehhe......weekly chart on GDX is amazing check that please...still thinking that $22 is the perfect area when GDX should bounce and due that is oversold that $22 is exactly the 50% retracement on fibonacci since the beginning of the uptrend and using weekly chart, and i have an exponential MA 100 with that same price....and this week started under the middle of the bollinger band than usually mean downtrend is coming until reversal signal...last week MACD cross down nicely and beautiful in weekly chart too.....but hey anything can happen with gold and changes are very quickly....

If GDX fall to $22 area that make DUST around $60, so don't expect much more than that IMO