Replies to post #14052 on Direxion Daily Gold Miners Bull 2X (NUGT)

[doglover1]

I think the price of gold and especially the price of the miners have a bigger influence here right now than chart lines.

Charts are great and 100% accurate on showing you where you've been, but not usually as clear and precise about where you are going.

Price of gold means more right now than filling gaps or resistance lines holding.

I get a much clearer picture of what's going on here by looking at a chart of gold than I do looking at a chart of NUGT, althought side by side they are pretty similar.

But hey, it's whatever works for somebody the best. Certainly not telling you you are wrong, because I'm usually the one that's wrong and more than likely could be here.

Gold chart suggests there's more pain ahead here, probably a lot more.