Redback's Australian Stock Market Report: Gold ETF as at 15/9/2010

Wednesday, September 15, 2010

Gold ETF as at 15/9/2010

The Gold ETF has bounced strongly off the 150-Day SMA.

The Slow Stochastic is close to breaking above its down trend line.

A further move up by the Gold ETF would be a buy signal.

This would also likely be a negative for the XAO.

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About this blog

Emphasis in this report is given to inter-market analysis (bonds, gold, international stock markets, currencies), market sector analysis and breadth analysis. Mention will also be made of simple Technical Analysis tools. The main indicators used are the MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), Slow Stochastic, trend lines and On Balance Volume.

To make matters clear. I am not a licensed financial advisor. Any statement that I make should be read as the personal opinion of a simple chartist trying to make sense of a chaotic environment.