ASX200 Faces Resistance at 200 Day MA, Break Above Atrgets 5225/5275
- Major resistance - 5158 (200 day MA)
- ASX200 has made a high of 5158 yesterday and slightly declined from that level. It is currently trading at 5148.
- The index should close above 5158 (200 day MA) for further trend reversal .On the higher side any break above 5158 will take the index to 5200/5225/5275.
- The major support is around 5065 and any break below major support 5065 will drag the index down till 5020/4960/4920/4900 in short term.The minor support is around 5100.
It is good to buy above 5158 with SL around 5100 for the TP of 5225/5275
The material has been provided by InstaForex Company - www.instaforex.com