We include in our Watchlist the ETF Lyxor AU2 (Australian Index ASX-200) which develops a graphically attractive configuration and enjoys a long-term upward trend, while historically consolidations tend to be buying opportunities.
The Australian economy is indeed very dynamic and diversified and highly exposed to the Asian economies. The sharp rebound this week is linked to a “pause” in the Korean crisis, which more than offsets the decline of last week. If this expansion were to persist, AU2 would be one of the first beneficiaries.
The weekly chart shows a bullish breakout, which is characterized by prices that came back again above all moving averages and are expected to lead to a positive crossover of the MACD. The monthly chart shows a rebound on the EMA13, which comes in confirmation of this scenario. A new wave of rising is likely to begin.
AU2 : monthly data
AU2 : weekly data
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We include in our Watchlist the ETF Lyxor AU2 (Australian Index ASX-200) which develops a graphically attractive configuration and enjoys a long-term upward trend, while historically consolidations tend to be buying opportunities.
AU2 : monthly data
AU2 : weekly data