March 15: D-day?
With only a few short days away from three potentially big catalysts, it is interesting to see that gold and the miners are poised for a big move…
- Gold is reaching the end of a multi year wedge formation
Gold (Monthly)
- GDXJ (Junior Miners) are nearing the end of an even narrower multi year wedge formation
GDXJ (Daily)
- Finally we can see that the volume in the 3x leveraged Junior Gold Mining index (JNUG) has shot up quite a bit during this potential bottom, along with miners overall diverging in a positive way from the underlying precious metal
JNUG (daily)
Buying JNUG is among the most riskiest ways of betting on a move up in gold and the miners. At least “someone” seems to be willing to bet big on it…
