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JNUG channel and cloud analysisJNUG channels that I see (disclaimer: they could be all wrong LOL). But I do think they'll help to provide a guide. For example, if we can't stay inside of the larger sky blue channel in March, I think it's obvious that JNUG will go lower, like $5's or even $4's. As far as the Ichimoku Cloud, we fell out of the cloud in Feb. But use the cloud to get a feel for how strong the price movement is. If we break back in soon (I think we REALLY need to), look for strong green candles inside of it to carry us up through the cloud for a breakout above it.
AMEX:JNUGLong
by SeekingDelta
1
JNUG ready to rock? JNUG missed an opportunity for a bullish Exponential Moving Average cross up over the past couple weeks. Felt horrible for anyone (...uh...guilty) who bought in the late Jan/early Feb thinking that insane movement was THE start of another wild bull run like 2016. I've improved my average to $9.40 by buying in the $6's. Using the Fibonacci Extension Tool on the Dec 2016 swing low to the swing high, I see a very precise touch on the 0.236 Fib line on this deep retracement, and expect this to be as bad as it gets. It could touch it again (and again and again) as this crazy market (and especially miners, and especially leveraged ETF's) love to play head games with the little guy/girl to shake them out when the circumstances appear the most dire. Stay strong, be smart. Use those simple, powerful indicators to make your decisions. But don't be stubborn either. I like the indicators I've used here, and in a minute I'll post a different chart with another simple one you can use.
AMEX:JNUGLong
by SeekingDelta
1
Jnug to Gold Feb 24thSO I bet many people were wondering WTF is up with the price of JNUG if gold broke out the last two days. Well the answer is that the cycle for miners is coming to an end and there is usually a little pullback during the bullish times and a huge drop during the bearish times. *(look at miners from 11/14 to 12/08 and see what the price action did compared to spot gold which was tanking hard during that period. Miners does not always follow gold perfectly. But when it does correspond, we can get big moves like we had over the last two months) Since we are currently finishing a bullish impulse then we should continue to drop into next week. How much is the question. I put an extension on the 100DMA and 50 DMA to show where they should cross. I am hoping that price can drop to that location where they cross but at least think we could close that last gap just above it. The light green area is where I plan on selling my JDST and buying JNUG. There is always a pop in Jnug when the cycle starts. Just look at price when the cycle start on 1/27 and then again on 12/20. Evan during bearish times like on 11/14 we had a little pop. So I hoping for JNUG to fall to $8.75 range with an expected pop to $11.30. If price does not break through again then it appears it could chop sideways for a while. The black triangles below are approximate zones where I am predicting without much certainty, that spot gold DCL should occur. I am not totally sold that we completed a DCL for spot gold yet and it may start to drop down to a decent 50% retracement or 50DMA. I also have changed my spot gold opinion as of 2 days ago since gold has now finally broken through the zone I talked about. I will post the gold chart after this. So I am short miners for at least into next week.
AMEX:JNUGShort
by SalN
3
Jnug to Gold - Im not long yetI'll keep this short and sweet. Until spot gold break through that large green area that I put on this Spot gold chart, then it is still possible that we are in wave 4 and not in the start of the 2017 bull run. However, I am not so sure how low it could go being so so late in the cycle. I put up the possibility of a head and shoulders pattern that could develop. Also keep in mind that the Yen has also broken out of it downtrending channel last week. and it ;looks like it pushed up into a minor wave 1. So this gold push is consistant with a minor wave 2 for the Yen. I will post this chart and Jnug. If gold breaks above that green area then I will change my outlook to very bullish.
FX_IDC:XAUUSDShort
by SalN
Gold headed back to bull channel from 2016Clear break of 1220 and the bull flag from the bottom at 112x. I think we are in wave 3 of 5 after the ABC correction and will have a symmetrical recovery back into the bull channel from 2016. In bigger picture I think we are in wave (iii) of (v) which will eventually take us 14xx+ First TP is around 1246 which is .75 quarter Fib from recent highs, and also the .5 Fib from the 2016 highs (not shown here). Ultimate TP around 132x Invalidate this idea if move back below 1195.
OANDA:XAUUSDLong
by TradeUpCards