- Major resistance – 5130
- ASX200 has broken major resistance 5130 and jumped till 5144 at the time of writing. It is currently trading at 5143.
- Short term trend is slightly bullish as long as support 5065 holds.On the higher side any break above 5130 will take the index to 5165/5200/5225.
- Any break below major support 5065 will drag the index down till 5020/4960/4920/4900 in short term.The minor support is around 5050.
- Overall trend reversal will happen only if it closes above 5200.Break above targets 5275/5300.
It is good to buy at dips around 5100 with SL around 5065 for the TP of 5165/5200
The material has been provided by InstaForex Company – www.instaforex.com