Select the account you'd like to open


Australia 200 index - decision time

The Australia 200 index is at an important level. The chart shows it is approaching the 11-year, post-GFC high. A break through the 6,380 level (blue line) would signal the potential for significant further gains. Alternatively, failure at this level, and then a fall through 6,285 (green line) could mean a correction is on its way.

An upward move would bring the all-time high around 6,850 into view as the next major target. Given general scepticism, and high cash levels, this may not please all investors. A breach of 6,285 offers mulitiple potential targets. The red line at 6,095 offers initial support. However a 38.2% Fibonacci retracement of the up trend in place since the December low would come closer to the key 6,000 level.

Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.

Sign up for market update emails