ASX200 Faces Resistance at 200 Day MA, Break Above Atrgets 5225/5275

ASX200 Faces Resistance at 200 Day MA, Break Above Atrgets 5225/5275

18 April 2016, 06:21
Roberto Jacobs
0
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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



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