Direxion Daily Gold Miners Bull 2X (NUGT)

[MD-420]

WB,

Good call. Also, I've been watching what I think is a big W formation in gold that started late Feb to current. Look at a 5 hour chart and scrunch it up. We are very close to the top of the high on the left side, which is also or high since December. As if there couldn't be more uncertainty, the trading rule calls for this area to be sold as it creates resistance. But, in our case we need gold to break it or we have a nasty little double top, I believe.

Have you looked at this? If not, can you take a look and give me your thoughts as I feel you are way better than me when it comes to knowing chart patterns and what type of price target a decent trade would look for in gold, provided I'm correct on the big W. I realize we gdx doesn't always follow hooks, as the move off recent lows in gold shows, but it's obvious gdx currently sells off on any fade in gold regardless of how high gold has come off its lows. Thank you in advance.