FxWirePro: ASX200 faces strong resistance at 10- day MA, good to sell on rallies
Minor resistance -5465 (10- day MA). The index has once again retreated after making a high of 5467.It is currently trading around 5410. ASX200 faces strong resistance at 10- day MA and any slight bullishness only above …
The index has once again retreated after making a high of 5467.It is currently trading around 5410.
ASX200 faces strong resistance at 10- day MA and any slight bullishness only above that level.But it should break above 5505 for further bullishness.
On the higher side,resistance is at 5467 (10- day MA) and any break above 5467 confirms minor bullishness, a jump till 5505 is possible. The index should break above 5625 for further jump till 5700.
The minor support is around 5395 (100- day MA) and any break below targets 5350 in the short term.
It is good to sell on rallies around 5460 with SL around 5505 for the TP of 5400/5360.
