ASX200 Breaks Major Support 4960, Targets 4860
- Major resistance - 4960
- ASX200 has broken major support 4960 and declined till 4922 at the time of writing. It is currently trading at 4923.
- Short term trend is slightly weak as long as resistance 5020 holds. Any break above 5020 will take the index to next level 5060/5100 level.The minor resistance is around 4960/5000.
- On the lower side any break below 4920 will take the index till 4880/4855.
- Overall trend reversal will happen only if it closes above 5200.Break above targets 5275/5300.
It is good to sell on rallies around 4965-49700 with SL around 5020 for the TP of 4860 .
The material has been provided by InstaForex Company - www.instaforex.com