FxWirePro: ASX200 Faces Strong Support Around 5200, Good to Buy at Dips
- Major resistance - 5300
- Major Support - 5200 (7 day EMA)
- ASX200 has recovered after making a low of 5207 yesterday. It is currently trading at 5270.
- 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 5230-35 SL around 5200 for the TP of 5300/5330.
The material has been provided by InstaForex Company - www.instaforex.com