Clearly, the line in the sand for the Gold ETF on the Australian market is the 150-Day SMA.Currently it is being held up by the support of that import Moving Average.
The Gold ETF tends to trade inversely to the Australian stock market. So - while the XAO has been attacking the 150-Day SMA from below, the Gold ETF is now doing the same from above its 150-Day SMA.
If both win, then the Australian stock market is going higher, and the Gold ETF is going lower.
If both fail, then the Australian stock market is going lower, and the Gold ETF is going higher.
Fascinating stuff.
Cheers
Red
No comments:
Post a Comment