Australia 200 (AU200AUD) Reaches Overbought Region at $6200, May Face Selling Pressure
Login

Australia 200 (AU200AUD) Reaches Overbought Region at $6200, May Face Selling Pressure

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Zones: 7000, 7100, 7200
Key Support Zones: 6100, 6000, 5900

Australia 200 (AU200AUD) Long-term Trend: Ranging
Australia 200 is fluctuating below level 6200 in the last four months. The resistance level has not been broken since June. Today, price is retesting the resistance level. A downward movement of price is expected. The market has also reached the overbought region.

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping sideways indicating the sideways move. It has risen to level 60 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50.

Ay200AUD – Daily Chart

Australia 200 (AU200AUD) Medium-term Trend: Bullish
On the 4- hour chart, Australia 200 is in as uptrend. The recent uptrend is facing resistance at level 6200. Since October 12, buyers have been finding penetration at the resistance. The market may turn down if the resistance remains unbroken.

AU200AUD – 4 Hour Chart

4-hour Chart Indicators Reading
AU200AUD is above the 30% range of the daily stochastic. The index is in bullish momentum. Sellers are likely to emerge to push prices down. The 21-day SMA and the 50-day SMA are sloping horizontally as the market continues its sideways movement.

General Outlook for Australia 200 (AU200AUD)
Australia 200 is in an uptrend, but the overall trend is range-bound. The price has risen to the overbought region. The market may pause at a level before the resumption of a downward move.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

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

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News