Australia 100 index trades sideways

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Australian stocks have been trading in a wide sideways range since April 2021. At the start of 2022, the index bounced off the August 2021 high and declined to the May 2021 low level. By doing so, the stocks revealed a horizontal channel pattern.

In February, the index surged until it found resistance in the 200-day simple moving average near 7,350.00. The SMA was enough for a decline to start. The decline ended near the 7,000.00 mark, in the 6,925.00/6,940.00 zone. On March 22, the equities had recovered and reached above the 200-day simple moving average near 7,330.00.

If the index continues to surge, it would most likely face the resistance of the late 2021 high levels at 7,450.00/7,500.00, before approaching the 2021 and 2022 high levels at 7,648.80.

Meanwhile, a potential decline would look for support in the 200-day simple moving average near 7,330.00 and the 50-day simple moving average near 7,130.00, before approaching the low level zone at 6,925.00/6,945.00.
Back to articles

Actual Topics

Wed, 23 Mar 2022 11:48:44 GMT

Coffee price finds support

The zone, which captures the 2021 July, October and November high levels, at 210.40/215.20 provided support to the price for coffee in mid-March. Afterwards, a recovery of the soft commodity price occurred. By March 23, the price had recovered and was heading to the 230.00 level. If the price continues to recover, coffee might encounter resistance in the 230.00 mark,

Tue, 22 Mar 2022 12:07:29 GMT

Copper books new high level

As the world set up sanctions on Russia for invading Ukraine, the price for copper started a surge on February 27. The sharp surge pierced the 2021 high levels and the absolute high level of the year at 4.8900. The surge ended at the 5.0450 mark, as the commodity booked a new 2022 high. Afterwards, the price declined back

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.