FxWirePro: ASX200 Trades Well Above 5200, Good to Buy at Dips

FxWirePro: ASX200 Trades Well Above 5200, Good to Buy at Dips

21 April 2016, 05:57
Roberto Jacobs
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FxWirePro: ASX200 Trades Well Above 5200, Good to Buy at Dips

  • Major resistance - 5220 (55 W EMA)
  • ASX200 has broken major resistance 5220 and jumped till 5290 at the time of writing. It is currently trading at 5275. 
  • Short term trend is slightly bullish as long as support 5200 holds. 
  • On the higher side any break above 5300 will take the index to 5330/5375. 
  • The major intraday  support is around 5250 and any break below major support 5200/5150.

It is good to buy at dips around 5180 with SL around  5145 for the TP of 5225/5275

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