FxWirePro: ASX200 struggles to close above 5300, good to buy on dips
Major resistance -5300 (200- HMA). Major support - 5240 (100- HMA). The index has slightly declined after making a high of 5310 on Friday. It is currently trading around 5287. On the higher side,major resistance is aroun…
The index has slightly declined after making a high of 5310 on Friday. It is currently trading around 5287.
On the higher side,major resistance is around 5300 (200-HMA) and any break above 5300 will take the pair till 5350/5449 (61.8% retracement of 5625 and 6152). The index should break above 5625 for further jump till 5700.
The major support is around 5240 and any break below targets 5200/5150 in the short term.
It is good to buy on dips around 5260-65 with SL around 5240 for the TP of 5300/52340
