The Gold ETF (Gold in Ozzie Dollars) continues in its sideways drift. It is currently held in a long symmetrical triangle. A break either way out of that triangle on good volume should determine future direction.The Gold ETF has a strong inverse correlation to the Australian stock market over a medium term time span. If the Gold ETF breaks upwards, that would be a negative for the XAO. A break downwards would be positive for the Australian stock market (XAO).
Watch this space.
Cheers
Red
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