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ASX200 breaks major support 5015, targets 4925

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…

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ASX200 breaks major support 5015, targets 4925
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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 .

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