ASX200 breaks major trend line resistance, jump till 5020 is possible
Major resistance - 4965 (Trend line joining 5101 and 5045) Major support 4850 ASX200 has broken major resistance around 4965 and jumped till 4986 at the time of writing. It is currently trading at 4962. Intra day trend i…
Major resistance - 4965 (Trend line joining 5101 and 5045)
Major support 4850
ASX200 has broken major resistance around 4965 and jumped till 4986 at the time of writing. It is currently trading at 4962.
Intra day trend is slightly bullish as long as support 4920 holds. Any break below 4920 will drag the index down till 4880/1850 in short term.The minor support is around 4950.
On the higher side any break 4965 will take the index till 5020/5075.
Overall trend reversal will happen only if it closes above 5200.Break above targets 5275/5300.
It is good to buy at dips around 4920-30 with SL around 4880 for the TP of 5020/5075
