DUST (3x bearish/short gold miners ETF) has hit the first price target, T1 at 14.27 on the GDX chart, for a quick 1-day gain of 4.9%. As posted earlier, a second price target of 13.87 (GDX) has been added to this trade. Those holding out for the second target should consider lowering stops to protect profits. Gold looks poised for pullback towards the 1110 level (106.27ish on GLD) and if so, then DUST will most likely see that second target by the end of the week or early next week.


note: GLD & $GOLD are not official trade ideas but will appear under the Short Trades categories (Setups & Active Trades) as long as the GDX/DUST is still active as the tickers for GLD & $GOLD are associated with this post/trade.