During the past 10 days, (NYSE:NUGT) has climbed from 3.13 to Thursday's high of 4.95 -- a 58% rise that has taken the mining ETF past key, near-term resistance at 3.70-4.10, inflicting significant damage to the otherwise dominant downtrend.
It's important to note that Thursday's strength took out the prior high of 4.81 (Aug. 12), positioning it for upside continuation toward 5.25, at which point all of the action since mid-July will have carved out an impressive rounded-base formation in the Miners.
