The Australia 200 market has reached its highest level in five weeks, thanks largely to tech stocks bolstering performance. This has supported price gains in the ASX 200, keeping trading above the 9,000 psychological support level.
Key Price Levels
Resistance: 9,250, 9,500, 10,000
Support: 8,500, 8,000, 7,500
Australia 200 Stays Upward After Breaching the 9,000 Threshold
The ASX 200 daily chart has remained on an upward course since Tuesday. The market saw a significant leap on Wednesday as futures started trading above prior limits. The latest price candle places the current price above the upper band of the Bollinger Bands (BB) indicator.
Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines are positioned high in the overbought region, with the leading line maintaining an upward trajectory. The main line of the indicator is now at the 100 mark, suggesting that buyers may still have a solid base to continue pushing higher.
ASX 200 Sees a Modest Bearish Pullback
On a smaller time frame, the Australia 200 market has shown a minor downward retracement. This pullback appears minimal and may be considered negligible, as price action remains well above the middle band of the BB indicator.
The latest red candle suggests that bullish forces are resisting further downward movement in the market at this time. The BB indicator retains its general upward trajectory while remaining well dilated.
The SRSI indicator lines are still above the 80 mark, though moving slightly downward. Nevertheless, the market still shows strong technical potential to advance toward the 9,250 price level.
Make money without lifting your fingers: Start trading smarter today
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again

Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated

Get Alerts
Immediate alerts to your email and mobile phone.

Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.