FxWirePro: ASX200 struggles to close below 200- day MA, good to buy on dips
Major support - 5260 (200- day MA). The index has recovered sharply after breaking slightly below 200- day MA.It is currently trading around 5293. ASX200 breaks below 200- day MA at 5263 and declined till 5260. But it sh…
The index has recovered sharply after breaking slightly below 200- day MA.It is currently trading around 5293.
ASX200 breaks below 200- day MA at 5263 and declined till 5260. But it should close below 200- day MA for further weakness .
On the higher side,resistance is at 5365 (daily Tenken-Sen) and any break above 5365 targets 5385/5400/5427 (21- day MA. The index should break above 5625 for further jump till 5700.
The minor support is around 5260 and any break below targets 5200/5155 in the short term.
It is good to buy on dips around 5280 with SL around 5250 for the TP of 5365.
