FxWirePro: AXS200 Struggles to Close Below 5300, Good to Buy at Dips
23 May 2016, 06:18
0
83
FxWirePro: AXS200 Struggles to Close Below 5300, Good to Buy at Dips
- Major resistance - 5400
- Major Support - 5293 (21 day MA)
- ASX200 has taken support near 21 day MA and slightly jumped till 5360 at the time of writing. It is currently trading at 5355.Short term trend is slightly bullish as long as support 5300 holds.
- On the higher side any break above 5400 will take the index to 5430/5500/5525.The minor resistance is around 5350/5380..
- The major intraday support is around 5300 and any break below major support targets 5250/5200.
It is good to buy at dips around 5330 around 5290 for the TP of 5400/5430
The material has been provided by 
