 Hello and welcome to the CMC Markets Chart of the Week video with myself, David Madden, market analyst here at CMC Markets and today's date is Wednesday the 10th of January and the time has just gone 12.20pm UK time and this week's chart of the week is going to be the ASX200 as we call it here at CMC Markets, the Australia 200 and if you take a look here at the chart we can see that the Australia 200 has been in quite a clear upward trend since October. We can see it as a consider a push higher here in November pull back to a reaction lows and then pushing on pushing on here and we have seen a bit of a pullback in the last session. The high that was created here earlier this week was actually a 10 year high so that only is the market in the clear upward trend we're actually hitting a decade high so I guess just an indication of just how bullish traders are on the Australia 200. Should this bullish trend continue we could see the market even target 6200 or beyond 6200 we could see the market move to the big psychological number of 6300 and if you draw a trend line between the lows of October and the lows of December we could see that the trend line support has been respected on a number of occasions only recently so why we remain north of that trend line it's likely that the positive move on the Australia 200 is going to continue. Now if you do see a break below that trend line it is necessarily a sign that the market is going to turn over on itself. A breaking of a trend line could often just mean the market is going to continue in the same trend just at a slower rate so even if you do break below this trend line here we could find support some support in around the 6,000 area in around here it's a big psychological number we saw quite a bit of price consolidation in around the 6,000 mark in both November and December if you do happen to break below the December low of this price here at 5,934 that could be an indication that the market is about to turn over on itself and the next level to watch out for to the downside will be 5,900 or potentially even as low as 5,800. If you are trading the Australia 200 you must be mindful that Australian retail sales figures are coming out on Thursday and Chinese trade figures are coming out on Friday. That's all from me this week. Thank you very much.