The Gold ETF (Gold in Ozzie Dollars) seems to have broken out of its sideways trend of the past three months. It now seems to have established a new higher trading range above $136.More importantly, the ratio chart of Gold/XAO is now clearly favouring Gold over the broad market. The Gold/XAO is now in a clear uptrend and the 13-Day SMA has now broken above the 55-Day SMA. That's bullish for Gold and bearish for the XAO.
All trends end. But while they last, there's no knowing just how far they will go.
Cheers
Red
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