Australia stocks higher at close of trade; S&P/ASX 200 up 1.65%
Australia stocks were higher after the close on Tuesday, as gains in the Metals & Mining, Materials and Resources sectors led shares higher.
At the close in Sydney, the S&P/ASX 200 gained 1.65% to hit a new 1-month high.
The best performers of the session on the S&P/ASX 200 were EML Payments Ltd (ASX:EML), which rose 30.86% or 0.13 points to trade at 0.53 at the close. Meanwhile, Nickel Mines Ltd (ASX:NIC) added 7.53% or 0.06 points to end at 0.79 and United Malt Group Ltd (ASX:UMG) was up 6.11% or 0.19 points to 3.30 in late trade.
The worst performers of the session were Chorus Ltd (ASX:CNU), which fell 3.55% or 0.27 points to trade at 7.34 at the close. Brickworks Ltd (ASX:BKW) declined 2.26% or 0.50 points to end at 21.63 and ARB Corporation Ltd (ASX:ARB) was down 1.24% or 0.36 points to 28.65.
Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 782 to 468 and 359 ended unchanged.
The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.53% to 15.26 a new 1-month low.
S&P 200 Technical Analysis: Daily Chart
In the daily charts, S&P 200 is trading in an up channel. S&P 200 is currently trading above all SMA.
RSI is in buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 6966.00 & the resistance level is at 7047.00.
S&P 200 INDEX will trade in an up channel until there is trend reversal.
How to Trade S&P 200 INDEX this Week:
S&P 200 INDEX will follow the uptrend until there is trend reversal. So, remain bullish on S&P 200 INDEX.
