FxWirePro: ASX200 Struggles to Break Above 5380, Good to Sell on Rallies
13 May 2016, 06:32
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FxWirePro: ASX200 Struggles to Break Above 5380, Good to Sell on Rallies
- Major resistance - 5380
- Major Support - 5300
- ASX200 pares early gains made today and slightly declined till 5328 at the time of writing. It is currently trading at 5331.
- Short term trend is slightly bearish as long as resistance 5380 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 sell on rallies around 5345-5350 around 5380 for the TP of 5300/5250/5200
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