#nugt

NUGT: A Good Supplement To GDX, But Not A Long-Term Holding

Gold will shine again….

Gold is trading around $1,250 which important Fibonacci retracement of the rise from $1,045 to $1,375. I remain long-term bullish and I have also been warning that Gold would be in danger of a deeper pull back if $1,300 was lost. Price is now at an important support level and a bounce towards $1,300 is expected.

Gold price is in a corrective phase and could very well bounce to $1,300 and then…

Bullish Gold through NUGT

You know I ‘ve been calling a long-term bullish reversal since $1,045. You also have read my analysis back then for NUGT that could reach 100$. Since then Gold has made several big swings and NUGT also a remarkable pull back correction. I’m long NUGT and I believe it can make new highs as I expect Gold to move above the long-term trend line resistance.

My preferred wave count is a nested…