ASX200 trades near 200- day MA, break below targets 5150/5100
Major resistance -5312 (3-day EMA). Major support - 5208 (Cloud bottom). The index has broken major psychological support at 5300 and declined till 5214 at the time writing.It is currently trading around 5214. On the hig…
The index has broken major psychological support at 5300 and declined till 5214 at the time writing.It is currently trading around 5214.
On the higher side,minor resistance is around 5312 (3-day EMA) and any break above 5312 will take the pair till 5382/5400/5429 (55- day EMA)). The index should break above 5625 for further jump till 5700.
The major support is around 5208 (200- day MA) and any break below targets 5150/5100 in the short term.
It is good to sell on rallies around 5300 with SL around 5351 for the TP of 5205/5155
