Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: ASX200 struggle to close above 5400, good to buy at dips

Major resistance - 5430 (27th May 2016 high)

Major Support - 5270 

  • ASX200 has started to decline after making a high of 5387 yesterday. It is currently trading at 5355.
     
  • Short term trend is slightly bullish  as long as support 5270 holds.
     
  • On the higher side any break above 5430 will take the index to 5485/550/5533 (161.8% retracement of 5270 and 5430).The minor resistance is around 5380. 
     
  • The index minor support is around 5345 (daily Tenken-Sen) and any break below targets 5310 (daily Kijun-Sen)/5270.

It is good to buy at dips around 5300-5310 around with SL around 5270 for the TP of 5385/5430.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.