ASX200 Trades Below 5300, Targets 5200
- Major resistance - 5350
- Major Support - 5300 (200 day 4 H MA)
- ASX200 has broken major support at 5300 and declined till 5269. It is currently trading at 5270.
- Short term trend is slightly bearish as long as resistance 5350 holds.
- On the higher side any break above 5350 will take the index to 5385/5400/5430/5485.The minor resistance is around 5325.
- Any break below 5300 targets 5250/5235/5200.
It is good to sell on rallies around 5300 with SL around 5350 for the TP of 5250/5205.