FxWirePro: ASX200 Faces Strong Support Around 5200, Good to Buy at Dips

FxWirePro: ASX200 Faces Strong Support Around 5200, Good to Buy at Dips

27 April 2016, 06:33
Roberto Jacobs
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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



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