Redback's Australian Stock Market Report: Action in Gold ETF 5/10/2010

Tuesday, October 5, 2010

Action in Gold ETF 5/10/2010

The Gold ETF has broken out to the upside. A "buy" signal.

This has been confirmed by a similar break-out on the Gold/XAO ratio chart.

A break above the 55-Day Moving Average would be an "confirm" signal.

Cheers

Red

No comments:

Post a Comment

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.