Last week I took notice of perhaps an opportunity to profit from the greatly oversold precious metal miners and now I believe we have further supportive evidence towards that end. The USD broke lower from its clearly defined triangle:
I believe the 200 day moving average is the USD's next stop. Should the USD break down from its 200 day moving average, then we could witness a spectacular rally lasting perhaps for a few weeks within the precious metals complex.
After a bit of frustration last week, I currently maintain a small position in NUGT at cost $11.65, and look forward towards adding to it.
Futures Slide More Than 1%, At Day Lows Ahead Of "Rate Hike Make Or Break" Payrolls - Moments ago, US equity futures tumbled to their lowest level in the overnight session, down 22 points or 1.1% to 1924, following both Europe (Eurostoxx 6...
29 minutes ago