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FxWirePro: ASX200 struggles to close above 5300, good to sell on rallies

Monday, May 9, 2016 2:51 AM UTC

Major resistance - 5375

Major Support - 5200
ASX200 pares early gains today morning after making a high of 5321.It is currently trading at 5270.
Short term trend is slightly bearish as long as resistance 5380 holds.
On the higher side any break above 5300 will take the index to 5330/5380/5420.
The major intraday support is around 5225 and any break below major support targets 5200/ 5165/5140.

It is good to sell on rallies around 5300-5310 SL around 5380 for the TP of 5205/5145.

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FxWirePro: ASX200 struggles to close above 5300, good to sell on rallies

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