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FxWirePro: ASX200 struggles to close above 5100, good to buy at dips

  • Major support - 5020 (resistance turned into support)
     
  • ASX200 breaks major resistance 5075 and jumped till 5105. It is currently trading around 5088.
     
  • On the higher side major resistance is around 5120 and any break above will take the index to next level 5170/5200.
     
  • Any break below major support will drag the index down till 4975/ minor support is around 5075.
     
  • Overall bullish invalidation only below 4850.

Buy ASX200 around 5065-5070 with SL around 5010 for the TP of 5200

 

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