Direxion Daily Gold Miners Bull 3x Shares (NUGT)

Trading Central
updated | Author's Website

REBOUND IN SIGHT

From a technical view, the ETF remains above a strong support area set at 14.60. Also, the 50 day moving average is rising and provides upward momentum. Finally, the RSI is supported by a rising trendline. A further upside is expected in coming days.



On a relative basis against the S&P500, the Direxion Daily Gold Miners Bull 3x Shares is facing a key support and looks set for a rebound.



Trading strategy:

Buy @ $15.47 – Stop loss @ $14.6 – Target @ $22.2

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