FxWirePro: ASX200 Retreats After Making a High of 5430, Good Ot Buy at Dip

FxWirePro: ASX200 Retreats After Making a High of 5430, Good Ot Buy at Dip

11 May 2016, 06:02
Roberto Jacobs
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FxWirePro: ASX200 Retreats After Making a High of 5430, Good Ot Buy at Dip

  • Major resistance - 5380 
  • Major Support - 5200 
  • ASX200 pares early gains today morning after making breaking a major resistance of 5380 and jumped till 5430 at the time of writing.It is currently trading at 5386. 
  • Short term trend is slightly bullish as long as support 5300 holds. 
  • On the higher side any break above 5430 will take the index to 5500/5525. 
  • The major intraday  support is around 5350 and any break below major support targets 5330/5300.

It is good to buy at dips around 5340 SL around  5300 for the TP of 5430/5500.

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