Technical Monthly August 2023 September 4, 2023 117
- Review of asset classes performance in August – Almost all ETFs were down between 1 to 11%, only gainer was ETF tracking Oil (XOP) which was up nearly 4%
- For the current trends of the ETFs tracking the various asset classes, that of S&P 500, Oil, Bitcoin, Singapore Equities and Hang Seng Index are in a range consolidation phase. US Treasury Bonds and Gold remain in a downtrend
- In terms of the outlook for these ETFs, S&P 500, Oil, Bitcoin, Singapore Equities and Hang Seng Index could remain in their respective range consolidation phases should technical patterns hold while US Treasury Bonds and Gold could continue their downtrend
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About the author
Zane Aw
Technical Analyst
PSR
I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).