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

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

31 May 2016, 06:18
Roberto Jacobs
0
11

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

  • Major resistance - 5400 
  • Major intraday Support - 5350 
  • ASX200 has slightly retreated after making a high of 5411. It is currently trading at 5387. 
  • Short term trend is slightly bullish  as long as support 5350 holds. 
  • On the higher side any break above 5430 will take the index to 5485/5536. 
  • The major support is around 5350 and any break below major support targets 5320/5290/5250.The minor support is around 5380.

It is good to buy at dips around 5380-85 with SL around 5350 for the TP of 5485/5525

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