Jnug to Gold
Now we really are in overbought territory. At first I thought we could not make it down to fill the huge gap but then I saw that the they are using is the one that connects 7/20 and 7/25. That absolutely would fill the gap. So if you guys are lucky enough to be waiting for a bottom, I personally would buy at $10.65ish just to be safe. And now we have a large gap above us. and yes that will get filled, rather quickly I think. I am going to say by Thursday.
Because of this BS manufactured move, my price targets for the next couple weeks have changed a little bit. I am saying we get up to $18 by Friday. For the next couple weeks, I am Jnug
Tremendous volume today.
funny you should be talking about a potential H&S
hopefully this chart loads up
Agree with $10.65 as the first buy target though still eyeing area around $9.61 support as a potential reversing point. First, because most of the time gaps close with overlaps, second - it's in proximity of the initial 23.6% move if measured from Jan 20 to Aug 11 and lastly it's the previous ICL low printed on May 31 under very similar scenario.
Of course, these arguments would mean nothing if either price doesn't get there this time around or if it penetrates and keeps falling.
Speaking about the downward momentum, what do you think about the potential H&S in GDXJ?