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DanjaZown

GDX/DUST: Gold miners still looking overbought

Short
Direxion Daily Gold Miners Index Bear 2X Shares (AMEX:DUST)  
DanjaZown  
AMEX:DUST   Direxion Daily Gold Miners Index Bear 2X Shares
Trend Analysis Chart Patterns GDX DUST Gold goldminers
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trendanalysis chartpattern gdx dust gold goldminers
Don't get me wrong, I love gold/precious metals and the miners but sometimes a little perspective is needed. The miners index is in nosebleed territory with 92% bullish and negative divergence on the RSI(5) and MACD. Then I started looking at DUST, an inverse ETF and a large bullish wedge is appearing.
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