Congrats on JNUG, best play of the week IMHO. Wish I hadn't been so tied up with the NG DGAZ thing.
Looking at the longer term chart on GDXJ.
It finally broke out of a long consolidation to the downside and hit oversold on the RSI 8. History shows that there was usually a 2-4 day rally back up to the 10 EMA but lower prices then followed.
So far we really don't have a decent signal that says this is the bottom. There has been some type of divergence in the past that signaled a bottom was close.
I am going with the general consensus that has been posted that we may revisit 2016 lows before it is all said and done.
One thing I always have to keep in mind is that this is not tracking GOLD. This is the same time chart of gold as posted of the above Miners chart. 2016 to 2017 they were similar, but since then even as gold went higher, the miners lagged big time.
I could see a potential for a rally/short squeeze back up to 9.50ish on JNUG if support around 7.80-8.00 holds
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