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ASX200 faces strong support at 5075, good to buy at dips

Wednesday, March 16, 2016 3:29 AM UTC

Major support - 5075 (resistance turned into support)
ASX200 has made a low of 5079 and started to recover from that level. It is currently trading at 5108.
Short term trend is slightly bullish as long as support 5075 holds. Any break below 5075 will drag the index down till 5020/5000.
On the higher side major resistance is around 5130 and break above targets 5175/5200/5225.
Short term bullish invalidation only below 4975.

It is good to buy at dips around 5100 with SL around 5075 for the TP of 5175/5225.

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ASX200 faces strong support at 5075, good to buy at dips

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