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AU200 Bias Turns Bullish
The AU200 price forecast in our March 27, 2020 technical analysis was bearish.
New data after AU200,H4 March 27, 2020 technical analysis indicate bullish bias now.
- AU200 closed up 7% at 5181.4 on March 30.
- Australia announced a moratorium on evictions of people from their rentals in the next six months.
- Government said an additional A$1.1 billion ($680 million) will be spent on health and law services besides earlier measures which equaled to about 10% of Australia’s annual gross domestic product.
Here is what indicators show as of March 30, 2020:
- The Donchian Channel gives a neutral signal.
- The MA(50) Indicator gives a bullish signal.
- The Parabolic indicator gives a bearish signal.
- The Fractals give a neutral signal.
- The MACD indicator gives a bullish signal.
- The RSI oscillator gives a neutral signal.
- The Fibonacci indicator gives a bullish signal.
So the forecast is bullish for the AU200, H4.
Order | BUY |
Buy stop | Above 5321.32 |
Stop loss | Below 4787.18 |
Reuters
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