ASX200 struggles to close above 5300, decline till 5200 likely
Major resistance -5300. Major support - 5240 (100- HMA). The index has once again retreated after making a high of 5301 at the time of writing. It is currently trading around 5279. On the higher side,major resistance i…
The index has once again retreated after making a high of 5301 at the time of writing. It is currently trading around 5279.
On the higher side,major resistance is around 5300 (psychological level) and any break above 5300 will take the pair till 5350/5449 (61.8% retracement of 5625 and 6152). The index should break above 5625 for further jump till 5700.
The major support is around 5240 and any break below targets 5200/5150 in the short term.
It is good to sell on rallies around 5295-5300 with SL around 5350 for the TP of 5240/5200
