Is a Counter-Trend Move Brewing in the USD and Commodities?
NUGT-- stuck between a rock and a hard place... between its lower channel boundary line at 10.60 or so, and its July-Sep. nearest term resistance line, now in the vicinity of 13.40, against glaring positive momentum divergences.
Technically, both my near term pattern and momentum work are biased for a climb that challenges the resistance line at 13.40... as the USD (DXY) weakens (see chart), which reduces the headwinds for Gold (miners) denominated in dollars...