ASX200 Trades Well Above 5100, Jump Till 5200 Is Possible

ASX200 Trades Well Above 5100, Jump Till 5200 Is Possible

15 April 2016, 05:44
Roberto Jacobs
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ASX200 Trades Well Above 5100, Jump Till 5200 Is Possible

  • Major resistance - 5130
  • ASX200 has broken major resistance 5130 and jumped till 5144 at the time of writing. It is currently trading at 5143.  
  • Short term trend is slightly bullish as long as support 5065 holds.On the higher side any break above 5130 will take the index to 5165/5200/5225. 
  • Any break below major support 5065 will drag the index down till 5020/4960/4920/4900 in short term.The minor support is around 5050. ​
  • Overall trend reversal will happen only if it closes above 5200.Break above targets 5275/5300.

It is good to buy at dips around 5100 with SL around 5065 for the TP of 5165/5200

The material has been provided by InstaForex Company - www.instaforex.com



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