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 supp…
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.
