Major support - 5370 (38.2% retracement of 5152 and 5505). The index has broken major support at 5370 and declined till 5345 at the time of writing.It is currently trading around 5347. ASX200 breaks below 38.2% retraceme…
Major support - 5370 (38.2% retracement of 5152 and 5505).
The index has broken major support at 5370 and declined till 5345 at the time of writing.It is currently trading around 5347.
ASX200 breaks below 38.2% retracement of 5152 and 5505 confirms minor trend reversal, decline till 5300/5255 .
On the higher side,resistance is at 5420 (10- day MA) and any break above 5420 targets 5460/5505. The index should break above 5625 for further jump till 5700.
The minor support is around 5370 (38.2% retracement of 5152 and 5505) and any break below targets 5350/5300 in the short term.
It is good to buy on dips around 5400 with SL around 5370 for the TP of 5460/5505.
