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