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fxWirePro:ASX200 trades higher, good to sell on rallies

Monday, November 7, 2016 3:32 AM UTC

Major support - 5150 (Sep 13th 2016 low)
Minor intraday resistance - 5275 (200- day MA).
The index jumped sharply till 5250 from the low of 5140 on account of clean chit by FBI on Hillary Clinton. It is currently trading around 5241.
ASX200 faces major resistance at 10- day MA and it should close above that level for minor jump till 5300/5325.
On the higher side, resistance is at 5275 (200- day MA) and any break above 5275 targets 5300/5325 (daily Tenken-Sen). The index should break above 5505 for further jump till 5625.
The minor support is around 5150 and any break below targets 5100/5000 in the short term.

It is good to sell on rallies around 5230-40 with SL around 5280 for the TP of 5152/5100

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fxWirePro:ASX200 trades higher, good to sell on rallies

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