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JNUG Gold Leveraged ETF in Cup and Handle
Direxion Daily Junior Gold Miners Index Bull 2X Shares
Long
JNUG Gold Leveraged ETF in Cup and Handle
By AwesomeAvani
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Mar 5, 2023
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Cheer
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Mar 5, 2023
As shown on the chart. price action has formed a cup with the expectation
of a handle formation which would be a downward retracement of 50% of
the cup's height ( or about a 0.5 fib level retracement ) then expecting a
reversal to a target of 2X the cup's height from its base and the same as
a cup height above the cup's upper edge.
From an anticipated bounce off support to the first target is 20% with
additional targets at $ 41.74 and $44 for smaller portions of the greater
position. Multiple sources are projecting a gold and silver uptrend in anticipation
of an equities market downturn and further federal actions to fight inflation
and "bear" down on the equities market. G
old bugs pay attention !
Fibonacci
Fibonacci Retracement
goldlongs
JNUG
volumeanalysis
Volume
XAUUSD
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