With only a few short days away from three potentially big catalysts, it is interesting to see that gold and the miners are poised for a big move…

 

  • Gold is reaching the end of a multi year wedge formation

 

Gold

Gold (Monthly)

 

  • GDXJ (Junior Miners) are nearing the end of an even narrower multi year wedge formation

 

GDXJ

GDXJ (Daily)

  • Finally we can see that the volume in the 3x¬†leveraged Junior Gold Mining index (JNUG) has shot up quite a bit during this potential bottom, along with miners overall diverging in a positive way from the underlying precious metal

 

JNUG

JNUG (daily)

 

Buying JNUG is among the most riskiest ways of betting on a move up in gold and the miners. At least “someone” seems to be willing to bet big on it…

 

 

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