Gold in Ozzie Dollars was up strongly overnight, +1.1%.In absolute terms, the Gold ETF is trading close to the bottom of its range. (Top chart) Relative to the XAO, the Gold/XAO Ratio is close to support.
Tehnical Analysis Details:
- Stock is below the 13-Day SMA
- MACD Histogram - Negative
- RSI - below 50 - Negative
- Slow Stochastic (5,5) - 32.8, below its signal line - Negative
The TA Summary is negative - but it wouldn't take much to throw the switch to Positive on all details. Given that Gold is at support and last night's positive action, today could be the start of a new short-term uptrend.
Good luck
Lance
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