The technical situation of the SPX200 index (one of the benchmarks of the Australian stock market) looks interesting.
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The quotations, after having risen towards the end of July to a peak of 7,500 points, underwent a rapid correction and fell back to the 7,100-7,080 point area.
The holding of this area, favoured by the strong short-term oversold, can trigger a fast recovery that will have a first target at 7,290-7,300 and a second target at 7,370-7,380 points.
A new demonstration of strength will then arrive with a return above 7,400 points even if, from a graphical point of view, a new directional bullish signal will only arrive with the breakout of 7,500 points.
Dangerous instead a descent below 7,050 points as it could trigger a further correction towards the next graphic support located in the 6,900-6,890 points area.
Click on the image to enlarge it.
Only the collapse of 6,825 (March minimum), however, could provoke a bearish trend reversal.
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The following ETFs can be used to invest in the Australian stock market:
Xtrackers S&P/ASX200, ISIN LU0328474803. This ETF has €56m in assets under management, physical replication of the underlying and a distribution policy (with dividends being distributed annually to investors). The total expense ratio (TER) is 0.50% per annum.
UBS MSCI Australia (hedged), ISIN IE00BWT3KS11. This ETF has €35m in assets under management, physical replication of the underlying (via a swap), an accumulation policy (with dividends being reinvested within the fund) and currency hedging. The total expense ratio (TER) is 0.50% per annum.
UBS MSCI Australia (unhedged), ISIN IE00BD4TY451. This ETF has €186m in assets under management, physical replication of the underlying, an accumulation policy (with dividends reinvested within the fund) and no currency hedging. The total expense ratio (TER) is 0.40% per annum.
Copyright DMF New Media – ETFWorld.co.uk
Reproduction prohibited in any form, even partial
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