There is a buying Opportunity is seen in the Index. The Aus200 index is majorly affected by commodity prices, which we need to look ahead. The Index was trading in a very tight range for a few days, The index has closed above the range, The close is above the 15 days close. The Single candle is telling alot about a day, The index went down made a low and closed at the High, indicating that the bull are interested in the Index. The Index is trading above the EMA's which is suggesting an uptrend and we can expect the index to trade higher in coming days.

The Index is trading above the ICHIMOKU CLOUD which is suggesting an uptrend, the Lagging indicator has broken out from its range bound move which is strengthening the move.

The RSI was also trading in a range, a breakout is also seen in RSI which is another confirmation for uptrend.

The MACD is trading above its previous low and a crossover is expected in the coming days.

The stochastic is also expected to cross, the move after stochastic crossing has been good, it would be a point of noticing ahead in the Index.

AUS200

Sep 06 2021