benjihyam

Are miners about to crash? Looks like it to me

Long
AMEX:DUST   Direxion Daily Gold Miners Index Bear 2X Shares
Dust looks like it's putting in a bottom to me. Also, there's a big falling wedge forming.

If we see a breakout of this pattern (which I think will materialize over the next week or so), I think we'll see a sharp move higher in $DUST and miners should fall quickly.

I'd be targeting the $17 resistance level as the target. Let's see what happens over the next few weeks.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.