FxWirePro: ASX200 takes support at 10- day MA, good to buy on dips
Major support -5437 (10- day MA). The index has taken support 10- day MA and jumped from that level.It is currently trading around 5470. ASX200 is trading well above Tenken-Sen (5437) and Kijun-Sen (5327) in the daily ch…
The index has taken support 10- day MA and jumped from that level.It is currently trading around 5470.
ASX200 is trading well above Tenken-Sen (5437) and Kijun-Sen (5327) in the daily chart.Any further weakness can be seen below 10- day MA.
On the higher side,the index is facing psychological resistance at 5500 and any break above 5500 confirms minor bullishness, a jump till 5625 is possible. The index should break above 5625 for further jump till 5700.
The minor support is around 5437 (10- day MA) and any break below targets 5390 (100- day MA)/5360 (21- day MA) in the short term.
It is good to buy on dips around 5435 with SL around 5390 for the TP of 5500/5625.
