FxWirePro: ASX200 Faces Strong Resistance at 5300, Good to Sell on Rallies

FxWirePro: ASX200 Faces Strong Resistance at 5300, Good to Sell on Rallies

25 April 2016, 05:37
Roberto Jacobs
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FxWirePro: ASX200 Faces Strong Resistance at 5300, Good to Sell on Rallies

  • Major resistance - 5300
  • ASX200 has made a high of 5291 on Friday and slightly declined from that level. It is currently trading at 5252. 
  • 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 5220 and any break below major support 5200/5150.

It is good to sell on rallies around 5260-65 with SL around  5300 for the TP of 5200/5160.


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



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