Replies to post #13977 on Direxion Daily Gold Miners Bull 2X (NUGT)

[Nate19]

Hey man, looking at the 6 month daily. I'm ignoring the 50 and 200 ma. And yes NUGT is seeing lower lows. That's the point. Seeing lower lows while the MACD has starting to experience higher lows is a good sign. Look specifically at the last 2 weeks of the MACD, it's trending up. The histogram is trending up as well, indicating that the gap between the signal line and MACD is closing. And according to the chart the MACD is about to pass above the signal line. All of those are buy signals.

I also took a look at the ADX. It currently looks bad but it looks like the gap between the +di and -di is going to start to close. And the ADX line seems to have peaked.

Sorry for such a long response, just thought I'd post everything I'm looking at.

[Nate19]

Essentially we're looking at positive divergence