ASX closed today at 7,295, after seven straight days of gains

Today at a glance: ASX rallied 43.8 points and maintained the 7,295 level.

Australia RBA Meeting Minutes is next tomorrow at 01:30 UTC.

Technical chart analysis shows ASX 200 could be slowing down soon as it approaches resistance at 7,318.4. Of course, crossing it might suggest further gains are ahead. Trend and momentum analysis indicates that investors are seeking long positions as ASX price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that ASX's upper Bollinger Band® is at 7,299.22, this is a slight indication of a slowdown.

Notwithstanding ASX's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Meanwhile, after ending today's session at 7,388.65, CAC lost 74.65 points and is trading around 7,314. DAX lost 0.96% today and closed at 16,358. FTSE lost 0.71% today and closed at 7,642.72.

Furthermore, the market is looking at Australia RBA Meeting Minutes scheduled to come out tomorrow at 01:30 UTC. Australia RBA Assist Gov Kent speech will be released tomorrow at 01:35 UTC. Australia RBA Assist Gov Bullock speech is scheduled tomorrow at 03:40 UTC.

4 months ago ASX reached a significant high of 7,558 but has consequently lost 4.06% since then.