AU200 Bias Turns Bullish | IFCM UK

AU200 Bias Turns Bullish

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The AU200 momentum shifted after the bearish price forecast in our April 23, 2020 technical analysis.

Market developments after AU200,H4 April 23, 2020 technical analysis indicate bullish bias.

  • AU200 gained 1.9% in two days since April 23, 2020.
  • Australia's goods exports rose 29% in March due to rebound in raw material exports.
  • Here is what indicators show as of April 27, 2020:

    • The Parabolic Indicator gives a bullish signal.
    • The Donchian Channel give a neutral signal: it is flat.
    • The MACD indicator gives a bullish signal.
    • The RSI oscillator gives a neutral signal.
    • The Fractals give neutral signal.
    • The MA(200) Indicator gives a bearish signal.

    So the forecast turns bullish for the AU200,H4.

    Buy stopAbove 5325.41
    Stop lossBelow 5199.05

    Australian Bureau of Statistics.

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