Major support – 5015 (200 day 4H MA)
- ASX200 has broken major support 5015 and declined till 5014 at the time of writing. It is currently trading at 5016.
- Short term trend is slightly weak as long as resistance 5075 holds. Any break above 5075 will take the index up till 5130/5160.
- On the lower side any break below 5015 will drag the index till 4980/4920.
- Short term trend reversal only above 5230.Break above targets 5275/5300.
It is good to sell on rallies around 5035-40 with SL around 5075 for the TP of 4980/4920 .
The material has been provided by InstaForex Company – www.instaforex.com