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AU200 Bias Still Bullish

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The AU200 price forecast in our May 20, 2020 technical analysis was bullish.

  • Market developments after AU200,D1 May 20, 2020 technical analysis indicate bullish momentum still.
  1. AU200 edged up 0.3% since May 20, 2020.
  2. Australia's private business sector contraction slowed in May.

Here is what indicators show as of May 25, 2020:

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

So the forecast remains bullish for the AU200,D1.

Buy stopAbove 5618.88
Stop lossBelow 5251.56

The Commonwealth Bank Composite PMI report.

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