UGL - Ultra Gold

[tsptalk]

Gold is looking ready to make another move, although there are some open gaps below that I'm not crazy about.

I bought some UGL this morning at 51.36 looking for the 2019 prior pattern (double bull flag) to repeat itself.

 

[Bullitt]

Still riding UGL?

Miners retesting breakout on weekly. Looks like another bullish setup for gold and gold stocks.

 

[tsptalk]

Still riding UGL?

I actually sold that position on for a 7 cent loss after the failed breakout in early Feb. But coincidentally I bought some again today on the pullback.

Description PROSHARES TR II PROSHARES ULTRA GOLD
Price 56.59

 

[tsptalk]

... coincidentally I bought some again today on the pullback.

Description PROSHARES TR II PROSHARES ULTRA GOLD
Price 56.59

Stopped out! Filled at $53.221 :suspicious:

 

[Bullitt]

Can't bring up chart right now, but forced selling in metals may have capitulated today. Big money sold their gold to raise cash.

Markets in general should start to find a floor here.

 

[tsptalk]

Can't bring up chart right now, but

 

[Bullitt]

On the cusp of a reverse H&S breakout here?

 

[tsptalk]

Is UGL (2X gold ETF) giving another opportunity to buy near inv. H&S the breakout levels? It also filled that open gap today. There is another open gap down near 56.