Major support - 5270 (200- HMA). The index has broken major resistance at 5350 and jumped till 5394 at the time of writing. It is currently trading around 5389. ASX200 is trading slightly well above Tenken-Sen (5360) an…
The index has broken major resistance at 5350 and jumped till 5394 at the time of writing. It is currently trading around 5389.
ASX200 is trading slightly well above Tenken-Sen (5360) and Kijun-Sen (5347) in the hourly chart.
On the higher side,any break above 5350 confirms minor trend reversal, a jump till till 5449 (61.8% retracement of 5625 and 6152). The index should break above 5625 for further jump till 5700.
The major support is around 5305 and any break below targets 5240/5200/5150 in the short term.
It is good to buy on dips around 5370-75 with SL around 5345 for the TP of 5450
