Direxion Daily Gold Miners Index Bear 2X SharesArca
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Sediment for miners has been bull and you can try bull miners on the flip side. Dust is riding down the 3 EMA daily and will need to find an oversold area then check back in with the 10EMA. I'm thinking it should ride down the RSI to 30 or a bit lower. This is a bounce idea and not a long term trade.
I think gold will be bull and top out near 1280-1320.
This is one to watch for now and when the 3ema daily and 10 ema daily gap becomes too great is the time to buy bear miners OR sell your bull miners.
I'm seeing this movement following a 5 wave like structure. This last wave may be the largest wave down.
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I'm not keen on Elliot waves, but sometimes they do show up clearly.