FxWirePro: ASX200 Faces Strong Support at 5300, Good to Buy at Dips
- Major resistance - 5380
- Major Support - 5307 (10 day EMA)
- ASX200 pares early losses made today and slightly jumped till 5372 at the time of writing. It is currently trading at 5368.
- 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 around 5300 for the TP of 5300/5250/5200