ASX200 Breaks Major Support 4960, Targets 4860

ASX200 Breaks Major Support 4960, Targets 4860

5 April 2016, 06:28
Roberto Jacobs
0
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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

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