Direxion Daily Gold Miners: Close To Support

 | Apr 16, 2014 02:21AM ET

From a technical view, Direxion Daily Real Estate Bull 3X Shares (ARCA:DRN) ETF is close to a key support area set around 32.70 (horizontal support + lower Bollinger Band+ 76.4% Fibonacci retracement). Regarding technical indicators, the daily MACD remains above its signal line and the 50-day moving average is still rising. On a relative basis against the S&P 500, the Direxion Gold Miners Bull 3x Shares is approaching a support area which should spark a rebound. Trading strategy: Buy @ $35.98 - Stop loss @ $32.50 - Targets @ $59.50 & @ $76