FxWirePro: ASX200 Recovers After Making a Low of 5194, Good to Buy at Dips
- Major resistance - 5300
- Major Support - 5135 (200 day MA)|
- ASX200 pares early losses today morning after making a low of 5194. It is currently trading at 5252.
- Short term trend is slightly bearish as long as resistance 5380 holds.
- On the higher side any break above 5300 will take the index to 5330/5380/5420.
- The major intraday support is around 5225 and any break below major support targets 5200/ 5165/5140.
It is good to buy at dips around 5225 SL around 5180 for the TP of 5300/5375.