New Year's NUGT

Precious Metal Continues Strong Relative Strength

The NUGT 0.00%↑ ETF, which is a 2x tracking gold miners, is gapping up in the pre-market to a level that would cross its EMA 200. It’s important not to overweight a pre-market move, however, we can see in the chart that the last few crosses above have provided some nice quick trade opportunities. Precious metal stocks/etfs have exhibited strong relative strength of late, and a cross and hold today could provide a nice short term trade, at the minimum.