FxWirePro: AXS200 Faces Strong Support at 5300, Good to Buy at Dips

FxWirePro: AXS200 Faces Strong Support at 5300, Good to Buy at Dips

12 May 2016, 06:41
Roberto Jacobs
0
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FxWirePro: AXS200 Faces Strong Support at 5300, Good to Buy at Dips

  • Major Support - 5300 
  • ASX200 pares losses made yesterday and slightly jumped till 5367 at the time of writing. It is currently trading at 5346. 
  • Short term trend is slightly bullish as long as support 5300 holds. 
  • On the higher side any break above 5380 will take the index to 5430/5500/5525. 
  • The major intraday  support is around 5300 and any break below major support targets 5250/5200.

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

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