Australia in a bullish trend
Despite the uncertainties of the last few sessions, EWA – the iShares MSCI Australia ETF – keeps moving between its 10-day exponential moving average and the upper Bollinger Band. Moreover, the ETF’s 20- and 50-day exponential moving averages are also moving up in a strong bullish trend.
The rather weak momentum makes MACD move just below its signal line, but never diverging too much from it.
EWA’s Relative Strength, on the other hand, has jumped away from its 20-day exponential moving average showing comparative bullishness in relation to our benchmark, the SPY.