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Add as a preferred source on Google FxWirePro:ASX200 faces strong resistance 5570, goo to sell on rallies Major resistance- 5570 (Aug 9th 2016 high). The index has once again declined after making a high of 5560 at the time of writing. It is currently trading around 5510. On the higher side,major resistance is around 5570 an…
By FxWirePro Team Aug 18, 2016, 3:09 AM UTC
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Major resistance- 5570 (Aug 9th 2016 high).
The index has once again declined after making a high of 5560 at the time of writing. It is currently trading around 5510.
On the higher side,major resistance is around 5570 and any break above will take the index to next level at 5625 (Aug 1st high)/5700.
The minor support is around 5498 (daily Kijun-Sen) and any break below targets 5450 (200 4H MA)/5400 in the short term.
It is good to sell on rallies around 5520 with SL around 5570 for the TP of 5450/5400
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