Replies to post #12976 on Direxion Daily Gold Miners Be (DUST)

[str8_chuter]

Has been nearly 7 weeks since the weekly $GOLD chart flashed a sell signal. Back then the call was for support to potentially show up around 1238. Almost there.

If 1238 gives way, next area of support at 1200.

GDX chart looks shakier. Has been range-bound for 18 months between 21 and 25.50. Technicals deteriorating on the chart though. 9-week MA is resistance.

$USD chart looks strong. Even if $GOLD finds some temporary support at 1238, hard to see much upside in the face of a rising dollar.