ASX200 breaks major support at 55-day EMA, targets 5300
Major intraday resistance -5525 (9-day EMA). Major support - 5448 (55 EMA). The index has broken major support at 55-day EMA and declined till 5409 at the time of writing. It is currently trading around 5417. On the high…
The index has broken major support at 55-day EMA and declined till 5409 at the time of writing. It is currently trading around 5417.
On the higher side,minor resistance is around 5450 (support turned into resistance) and any break above 5450 will take the pair to next level till 5500/5520 (9- day EMA). The index should break above 5625 for further jump till 5700.
The major support is around 5360 (100 day MA) and any break below targets 5300 (cloud bottom) in the short term.
It is good to sell on rallies around 5455-5460 with SL around 5520 for the TP of 5360
