FxWirePro: ASX200 Struggles to Close Above 5300, Good to Sell on Rallies
9 May 2016, 05:29
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FxWirePro: ASX200 Struggles to Close Above 5300, Good to Sell on Rallies
- Major resistance - 5375
- Major Support - 5200
- ASX200 pares early gains today morning after making a high of 5321.It is currently trading at 5270.
- 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 sell on rallies around 5300-5310 SL around 5380 for the TP of 5205/5145.
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