ASX200 Trades Below 5300, Targets 5200

ASX200 Trades Below 5300, Targets 5200

2 June 2016, 06:45
Roberto Jacobs
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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.

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