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Yesterday, on an uptick in volume, the Direxion Daily Gold Miners 3x Bear ETF (DUST) tested support at the 50-day MA, but then reversed to close in the upper third of the day’s trading range. Ideally, we would like to see an inside candle form prior to DUST attempting a possible move higher. As an alternative, an undercut of the 50-day MA and the formation of another reversal candle would also provide a potential long setup for this ETF. The entry under either of these scenarios would be a move above yesterday’s high of $37.76.

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