Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

AND HOW ABOUT THAT....

GDX/Miners making new highs IN SPITE of lower Gold prices! Miners will lead/outperform Gold in a reversal. Where have I heard that can happen before??? ;-p

HOD at 18.20 is exactly 50 MA on 2 hour in current period and represents the level of the descending red TL on the hourly. The next few hours gonna be interesting...as this is a confluence of HEAVY resistance (as evidenced by the immediate push-back in price).





Gold is likely going to need to improve some from current levels to push through this resistance too. A drop below that 1201-1202 GC area could wipe it all out swiftly.