FxWirePro: ASX200 Retreats After Making a High of 5430, Good Ot Buy at Dip
11 May 2016, 06:02
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FxWirePro: ASX200 Retreats After Making a High of 5430, Good Ot Buy at Dip
- Major resistance - 5380
- Major Support - 5200
- ASX200 pares early gains today morning after making breaking a major resistance of 5380 and jumped till 5430 at the time of writing.It is currently trading at 5386.
- Short term trend is slightly bullish as long as support 5300 holds.
- On the higher side any break above 5430 will take the index to 5500/5525.
- The major intraday support is around 5350 and any break below major support targets 5330/5300.
It is good to buy at dips around 5340 SL around 5300 for the TP of 5430/5500.
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