Oversold Conditions, North Korea Rhetoric, and Flight-to-Safety Bolster The Gold Miners

NUGT is attempting to pivot to the upside from the vicinity of its July-Sep. support line (33.40), as well as from its 62% retracement zone of the prior advance from 25.70 (7/10) to 44.78 (9/08).The fact that today's strength has climbed above the nearest term-- Sep.-- down trendline is an encouraging sign that the 29% Sep. correction is complete, and that a new upleg is emerging. As long as NUGT remains north of 32.00, and as long as the escalating geopolitical rhetoric intensifies between the US and North Korea  I want to maintain long exposure to the Gold Miners...

9 25 17 NUGT 1220 GIF
9 25 17 NUGT 1220 GIF

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