JNUG/NUGT ratio going 1+
The inverse h&s neckline is being tested in the handle right now. A brake of green descending TL from previous range would give immediate TP of 1.03 (top of cup).
IHS extension target is 1.15. With break of 1.03, I expect a move back to bottom of range from 2014 at 1.24. Longer term, cup & handle extension would give 1.64, but that would require a massive move by gold, so not expected soon.
Invalidate with daily close below .8 on the ratio
IHS extension target is 1.15. With break of 1.03, I expect a move back to bottom of range from 2014 at 1.24. Longer term, cup & handle extension would give 1.64, but that would require a massive move by gold, so not expected soon.
Invalidate with daily close below .8 on the ratio
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