ASX200 Breaks Major Support 5340, Decline Till 5250/5235 Is Possible
1 June 2016, 05:56
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ASX200 Breaks Major Support 5340, Decline Till 5250/5235 Is Possible
- Major resistance - 5430
- Major intraday Support - 5340 (21 day MA)
- ASX200 has broken major support at 5340 and declined till 5303. It is currently trading at 5308.
- Short term trend is slightly bearish as long as resistance 5430 holds.
- On the higher side any break above 5380 will take the index to 5400/5430/5485.The minor resistance is around 5360.
- Any break below 5300 targets /5250/5235.
It is good to Sell on rallies around 5360-65 with SL around 5400 for the TP of 5250/5235.
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