- Major resistance - 5245 (55 day EMA)
- Major Support - 5130 (200 day MA)
- ASX200 has broken major resistance 5210 (90 day EMA) today morning and jumped till 5244 at the time of writing. It is currently trading at 5228.
- Short term trend is slightly bullish as long as support 5130 holds.
- Any violation below major support will drag the index down till 5090/5075/5000 in the short term.
- On the higher side any break above 5245 (55 day EMA) will take the index to 5300/5360.
It is good to buy at dips around 5175-80 with SL around 5130 for the TP of 5245/5300.
