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- Major resistance - 5055 (trend line joining 5220 and 5100)
- ASX200 has recovered after making a low of 4961. It is currently trading at 5041.
- Short term trend is slightly bullish as long as support 4960 holds. Any break below 4960 will drag the index down till 4920/4850 level.The minor support is around 5000.
- On the higher side any break above 5055 will take the index till 5080/5130/5160.
- Overall trend reversal will happen only if it closes above 5200.Break above targets 5275/5300.
It is good to buy above 5055 with SL around 5000 for the TP of 5130/5160 .
