ASX200 recovers from low of 5152,good to sell on rallies
Major resistance -5240 (3-day EMA). Major support - 5150. The index has broken major support at 200- day MA and declined till 5152 yesterday. It is currently trading slightly above 200 -day MA around 5231. On the higher …
The index has broken major support at 200- day MA and declined till 5152 yesterday. It is currently trading slightly above 200 -day MA around 5231.
On the higher side,minor resistance is around 5240 (3-day EMA) and any break above 5240 will take the pair till 5303 (7- day EMA)/5350. The index should break above 5625 for further jump till 5700.
The major support is around 5150 and any break below targets 5100/5041 in the short term.
It is good to sell on rallies around 5300 with SL around 5351 for the TP of 5205/5155
