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FxWirePro: ASX200 faces strong support around 4850, good to buy at dips

  • Major resistance -4930
     
  • Major support -4850
     
  • ASX200 has recovered after making a low of 4853. It is currently trading around 4920.
     
  • Short term trend is slightly bullish as long as support 4850 holds.
     
  • On the higher side any break above 4930 will take the index till 5000/5035.
     
  •  Minor weakness can be seen below 4850 and break below targets 4825/4765.

It is good to buy at dips around 4890-4900 with SL around 4850 for the TP of 5000/5035

 

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