Gold miners - short-term top in?
$HGD 2X Bear Gold Miners
This puppy looks poised for a short-term move up to the $3.90/4 area, conveniently after $GOLD hitting a new high early 2020 after the 2019 Christmas Rally.
The chart has simple support/resistance lines drawn (green/red) as well as open gaps (pink) that need to get filled.
This quick swing trade should close the first gap at 3.90, before resuming weakness to the downside.
As markets sort out how 2020 is going to look heading into the US election, we should have a better idea of $GOLD and $SPX performance overall.
Happy trading,
Rubber
This puppy looks poised for a short-term move up to the $3.90/4 area, conveniently after $GOLD hitting a new high early 2020 after the 2019 Christmas Rally.
The chart has simple support/resistance lines drawn (green/red) as well as open gaps (pink) that need to get filled.
This quick swing trade should close the first gap at 3.90, before resuming weakness to the downside.
As markets sort out how 2020 is going to look heading into the US election, we should have a better idea of $GOLD and $SPX performance overall.
Happy trading,
Rubber