Thursday, October 15, 2026

Technicals

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ASX200 faces strong support at 5500, break below targets 5400

Major resistance- 5555 (Aug 9th 2016 high). Major support - 5498 (daily Kijun-Sen). The index has once again declined after making a high of 5546 at the time of writing. It is currently trading around 5516. On the higher…

By FxWirePro Team
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  • Major resistance- 5555 (Aug 9th 2016 high).
     
  • Major support - 5498 (daily Kijun-Sen).
     
  • The index has once again declined after making a high of 5546 at the time of writing. It is currently trading around 5516.
     
  • On the higher side,major resistance is around 5560 and any break above will take the index to next level at 5611 (Aug 1st high)/5700.
     
  • The minor support is around 5498 (daily Kijun-Sen) and any break below targets 5450 (200 4H MA)/5400 in the short term.                

It is good to sell on rallies around 5520 with SL around 5570 for the TP of 5450/5400    

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By FxWirePro Team