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March 04, 2023
Yesterday at a glance: after finishing Thursday at 7,255.4, ASX went up to 7,292.5 before paring its losses and closing at 7,283.6.
At the same time, Australia CFTC AUD speculative net positions released yesterday at 20:30 UTC with a figure of -28,100, while the previous figure was -30,600. Australia Home Loans (MoM) came out at -4.9, while a consensus of analysts was expecting -1.7.
ASX 200's lower Bollinger Band® is at 7,167.33, indicating that the market is oversold and fertile for new buyers. On the other hand, note that ASX is 16.73 points away from testing key resistance at 7,300.33. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems ASX might continue pointing upwards in the short term.
ASX shows positive signs, other assets are also on par: S&P 500 went up by 1.61% yesterday, and closed at 4,045.64. Nikkei went up by 1.56% yesterday, and closed at 27,927. Nasdaq improves 1.97% yesterday and closed at 11,463.
ASX has gained 4.91% since its lowest print of 6,434.7 earlier this year.
