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FxWirePro: ASX200 struggles to break above 5380,good to sell on rallies

Friday, May 13, 2016 2:55 AM UTC

Major resistance - 5380

Major Support - 5300
ASX200 pares early gains made today and slightly declined till 5328 at the time of writing. It is currently trading at 5331.
Short term trend is slightly bearish as long as resistance 5380 holds.
On the higher side any break above 5380 will take the index to 5430/5500/5525.
The major intraday support is around 5300 and any break below major support targets 5250/5200.

It is good to sell on rallies around 5345-5350 around 5380 for the TP of 5300/5250/5200

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FxWirePro: ASX200 struggles to break above 5380,good to sell on rallies

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