ASX200 upside capped by 3-EMA, good to sell on rallies
Major resistance -5240 (3-day EMA). Major support - 5150. The index has slightly jumped from the low of 5152 till 5240 yesterday. It is currently trading around 5212 . On the higher side,minor resistance is around 5240 (…
The index has slightly jumped from the low of 5152 till 5240 yesterday. It is currently trading around 5212 .
On the higher side,minor resistance is around 5240 (3-day EMA) and any break above 5240 will take the pair till 5295 (daily Tenken-Sen)/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 5240-5250 with SL around 5300 for the TP of 5155/5100
