A date with JNUG

Long

Direxion Daily Junior Gold Miners Index Bull 2X Shares (AMEX:JNUG)

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AMEX:JNUG Direxion Daily Junior Gold Miners Index Bull 2X Shares

JNUG is looking rather yummy lately and I'm getting ready to take a nibble :) Miners - GDX/GDXJ - were trading way above their 200DMA and were in dire need of a correction. That correction is now very much underway and Gold could print a DCL any day now. Notice how JNUG is flirting with the 50 DMA and possibly the 62%Fib Retracement where you'll find strong support. These are levels to watch in the next coming days.

Trade at your own risk..! JNUG is a 3X Leveraged ETF

Commentaire:

Gold is skyrocketing today! I picked up some shares of JNUG this morning @$220 and will pick up a second tranche if we get a strong reversal. Either way, I'm convinced that we will re-test and possibly break $315.

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