BetaShares Australian Resources ETF (QRE) $9.40

The QRE holds all of the “hot” stocks of the last six months, from gold to copper and large diversified names, hence its stellar performance this FY. However, at this stage of the cycle, we believe some consolidation is likely following the 70% almost uninterrupted rally from its April low.

• We can see QRE ETF initially testing $9 support in the coming weeks/months, or 4-5% lower.