Fxwirepro: ASX200 Struggles to Close Above 5400, Good to Buy at Dips

Fxwirepro: ASX200 Struggles to Close Above 5400, Good to Buy at Dips

17 May 2016, 06:33
Roberto Jacobs
0
40

Fxwirepro: ASX200 Struggles to Close Above 5400, Good to Buy at Dips

  • Major resistance - 5380 
  • Major Support - 5307 (10 day EMA) 
  • ASX200 has broken major resistance 5380 and jumped till 5397 at the time of writing. It is currently trading at 5388. 
  • 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

The material has been provided by ifx_logo.gif



Share it with friends: