Major resistance -5505 The index has formed a triple top around 5505 and started to decline from the higher level.It is currently trading around 5483. ASX200 is trading well above Tenken-Sen (5437) and Kijun-Sen (5327) i…
The index has formed a triple top around 5505 and started to decline from the higher level.It is currently trading around 5483.
ASX200 is trading well above Tenken-Sen (5437) and Kijun-Sen (5327) in the daily chart.But it should break above 5505 for further bullishness.
On the higher side,the index is facing psychological resistance at 5505 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 5460 (10- day MA) and any break below targets 5394 (100- day MA)/5382 (21- day MA) in the short term.
It is good to buy above 5505 with SL around 5455 for the TP of 5625.
