GDXU leveraged gold miner ETF LONG SETUP

GDXU

As illustrated on the one-hour chart GDXU has reversed a downtrend as indicated

by the EMA crossover and so on. Support and Resistance lines are shown.

Price is well below the SMA200 and thus undervalued as compared with historical data.

I see this as an upside 30 % long setup with reasonable risk. Once the trade

progresses perhaps 10-12% in price rise, the stop loss can be moved up to

break even. This can be approached with intermediate-term call options

as well. Targets and stop loss are marked out.