Showing posts with label Gold ETF. Horizontal Resistance. Down-trend line. 65-Day SMA. 150-Day SMA.. Show all posts
Showing posts with label Gold ETF. Horizontal Resistance. Down-trend line. 65-Day SMA. 150-Day SMA.. Show all posts

Monday, August 16, 2010

Gold ETF as at 16/8/2010

The Gold ETF (Gold in Ozzie Dollars) has had a good run and rising exponentially.

In early August it consolidated around the 150-Day SMA and has since risen every day for the past five days.

It is now heading into heavy weather with horizontal resistance around the 133-135 area (circled).

Above that is the 65-Day SMA and the down-trend from the June high. A breakout above that would be very bullish.