FxWirePro: ASX200 faces strong support around 5850, good to buy at dips
Major resistance -5000 (55 4H EMA) Major support 4850 ASX200 has recovered after making a low of 4888. It is currently trading at 4938. Short term trend is slightly bullish as long as support 4850 holds. Any break below …
ASX200 has recovered after making a low of 4888. It is currently trading at 4938.
Short term trend is slightly bullish as long as support 4850 holds. Any break below 4850 will drag the index down till 4800/4780 in short term.The minor support is around 4880.
On the higher side any break above 5000 will take the index to next level till 5040/5075/5130.
Overall trend reversal will happen only if it closes above 5200.Break above targets 5275/5300.
It is good to buy at dips around 4900 with SL around 4850 for the TP of 5000/5075
