Australia 200 (ASX 200) Bulls Stay on Top

The general stock market has been experiencing a strong recovery, fueled by better-than-expected U.S. job data and news of easing U.S. trade tariffs. As a result, the Australia 200 index has also rebounded from its earlier decline. Let’s take a closer look.

Key Price Levels
Resistance Levels: 8,500, 9,000, 9,500
Support Levels: 8,000, 7,700, 7,500

Australia 200 Surges Higher

The ASX 200 has been on a consistent upward trajectory throughout the week, now trading at levels last seen about two months ago. The market closed last week in the green, maintaining its position above significant technical thresholds.

The most recent price candle is green and positioned above the middle band of the Bollinger Bands, though it has not yet tested the upper band. Similarly, the Moving Average Convergence Divergence (MACD) indicator lines have crossed above the equilibrium line and continue trending upward. The histogram bars of the MACD are solid red, indicating that upward momentum remains strong.

ASX 200 Bulls Remain in Control

Additionally, the Australia 200 remains firmly bullish even on shorter timeframes. The latest price candle is also green and is pressing against the upper Bollinger Band without a clear sign of reversal. This is likely due to the steady and moderate gains currently being realized.

Price action continues to hug the upper limit of the Bollinger Bands. Meanwhile, the MACD lines are trending upward above the equilibrium line, and the MACD bars are still green—signaling sustained bullish momentum. Traders may consider maintaining a bullish outlook with a near-term target around the 8,500 level.

Make money without lifting your fingers: Start trading smarter today