Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

Then you are looking with rose-colored glasses. You're talking about a 2 year long wedge that is going to complete. A break higher means GDX going to higher level than highest point. A break lower means GDX going to a lower level than lowest point. It's really that simple.

FYI, you can also draw a shorter term wedge within the 2 year wedge. Starting at Dec 16 lows of 18.43 through 21.10 low of Dec 17. That line goes right through where GDX bounced last week. That support line is just below the 2 year wedge Citrati shows...but, that is what we are dealing with.