QAU
Updated- GOLD (AUD) daily chart. Still in UpTrend for now. Updated- GOLD (AUD) daily chart. Still in UpTrend for now.
AUD dying a slow death against real moneyXAUAUD - This has to be the most telling of all sorties of all.
While everyone continues to pile into trendy tech stocks operating in crowded consumer markets, harbouring astronomical debts, that make no profit, with PE ratios higher then Cheech and Chong. At the same time the unloved boring gold sector with low PE ratio businesses, no debt, free cash flow and cash reserves finally showing signs of life. Gold tells the story of a slowly dying monetary system poised to give the retail investors one last f**k you. Where will you be on the next bank holiday?
How did you go broke?..Slowly. Then all at once.
QAU to continue going down midterm? QAU failed to close above the channel a few months ago and now looking more bearish.
OBV, RSI, MACD, and volume are bearish for QAU.
We could see more downside in the midterm.
