Australia 200 (ASX 200) Loss Deepens, but Sentiment Remains Positive

The Australia 200 market closed in the green previously but has declined toward lower price levels over the past week. This movement appears linked to uncertainty surrounding U.S. trade negotiations. However, the market could experience a recovery in the coming week, although this may largely depend on the outcome of key anticipated fundamental developments.

Key Price Levels

Resistance Levels: 8,700, 9,100, 9,500

Support Levels: 8,300, 7,900, 7,500

Australia 200 Remains Positioned for Further Upside

On the daily chart, the ASX 200 has managed to climb above the 8,500 mark. The current trading session is represented by a small green candlestick that holds above the midline of the Bollinger Bands (BB) indicator. The BB indicator maintains a slight upward slope, with its terminal end appearing steeper—suggesting increased bullish pressure.

Meanwhile, the Smoothed Rate of Change (SROC) indicator remains above the equilibrium level, positioned at exactly 1. This supports the technical outlook that the market may resume its upward trajectory in the near term.

ASX 200 Shows Signs of Strengthening Momentum

The Australia 200 market appears more active, displaying an overall upward trajectory. Price action has rebounded from a support level higher than that observed around July 15–16. Despite closing in the red, the index remains above the lower band of the BB indicator.

The BB indicator itself is taking on a more sideways orientation, with price action currently positioned below its midline—indicating consolidation rather than full bearish control. The SROC indicator line is also moving sideways just beneath the equilibrium level, reflecting a potential pause in bearish momentum.

Given these conditions, traders should watch developments related to U.S. trade talks and other major economic events, which could serve as a catalyst toward a rebound targeting the 8,750 level.

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