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ASX 200 Technical Analysis - ASX 200 Trading: 2020-10-09
ASX 200 Technical Analysis Summary
Above 6200
Buy Stop
Below 5700
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
ASX 200 Chart Analysis
ASX 200 Technical Analysis
On the daily timeframe, AU200: D1 is being traded in a narrow neutral range for the 5th month already. It must be broken upward before opening a position. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish move if AU200 rises above the 200-day MA and Bollinger Upper Line: 6200. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the lower Bollinger line, the 2 last lower fractals: 5700. After opening a pending order, we move the stop loss following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop loss (5700) without activating the order (6200), it is recommended to delete the order: some internal changes in the market have not been taken into account.
Fundamental Analysis of Indices - ASX 200
The recent growth of commodity prices could help strengthen the Australian economy, which is a major exporter of commodities. Will AU200 quotes grow ?
Australia's GDP fell 7% in the 2nd quarter of 2020. This is less than in the European Union (-11.8%), the USA (-31.4%), Japan (-7.9%) and other developed countries. Reserve Bank of Australia (RBA) at its meeting on October 6 kept the rate at a historic low of 0.25% and announced its readiness to further ease monetary policy in order to stimulate the Australian economy. Investors expect the RBA rate to drop to 0.1% in November and the launch of the bond buyback program. This could support the rise in the S&P/ASX 200 stock index. Australia exports a range of commodities and minerals: mainly coal, oil and liquefied natural gas, various ores and metals, including non-ferrous and precious ones. They account for approximately 45% of exports and another 10% includes meat, grain crops and other agricultural products.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
