ASX200 Trades Well Above 5300, Jump Till 5380/5420 Is Possible

ASX200 Trades Well Above 5300, Jump Till 5380/5420 Is Possible

10 May 2016, 06:20
Roberto Jacobs
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ASX200 Trades Well Above 5300, Jump Till 5380/5420 Is Possible

  • Major resistance - 5375 
  • Major Support - 5200 
  • ASX200 pares early losses today morning after making a low of 5286 at the time of writing.It is currently trading at 5333. 
  • Short term trend is slightly bullish as long as support 5250 holds. 
  • On the higher side any break above 5330 will take the index to 5380/5420/5450. 
  • The major intraday  support is around 5250 and any break below major support targets 5200/ 5165/5140.

It is good to buy at dips around 5290 SL around  5250 for the TP of 5375/5420.

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