FUNCHARTS - Gold can be a leading Indicator for South32 (S32)
Note: Funcharts are interesting charts I have found that offer a potentially unique perspective on a stock. Sometimes I’ll throw something out there that you might find controversial or wrong headed. If that’s the case your 2 cents worth is most welcome.
South32 (S32) on the ASX has been led by Gold (GLD) by 139 days through history. Go ahead and check out the chart, go back in time and you’ll see that there has been a reasonable correlation between movements in Gold followed by movements in South32. It hasn’t always been 139 days but this has been the highest correlation at 29% of all lag times, if that makes sense.
The current intermarket forecast from Gold suggests a rally through to the 25th July, let’s see.
Incidentally Coffee has provided an inverse correlation, I’ll show you that one another time.
Happy Trading
South32 (S32) on the ASX has been led by Gold (GLD) by 139 days through history. Go ahead and check out the chart, go back in time and you’ll see that there has been a reasonable correlation between movements in Gold followed by movements in South32. It hasn’t always been 139 days but this has been the highest correlation at 29% of all lag times, if that makes sense.
The current intermarket forecast from Gold suggests a rally through to the 25th July, let’s see.
Incidentally Coffee has provided an inverse correlation, I’ll show you that one another time.
Happy Trading
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。