The Gold ETF had an unusual day, with a candle printing an "identical twin" to the previous day's candle. That's often a sign that a trend reversal will occur.Given that the Slow Stochastic is down in oversold territory the chances of a short term trend reversal are increased.
The market is now at a crucial point.
The Gold ETF and the XAO are at pivot points. Given that these two are inversely related, one or other has to give.
Of course, it is possible for the Gold ETF to rise while the XAO rises - but it is unusual.
Similarly, it is possible for the Gold ETF to fall while the XAO falls - but it is unusual.
Expect a definitive move tomorrow.
Good luck
Red
No comments:
Post a Comment