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FxWirePro:ASX200 faces strong support at 5300, good to buy at dips

Monday, May 16, 2016 2:52 AM UTC

Major resistance - 5380
Major Support - 5307 (10 day EMA)
ASX200 pares early losses made today and slightly jumped till 5372 at the time of writing. It is currently trading at 5368.
Short term trend is slightly bullish as long as support 5300 holds.
On the higher side any break above 5380 will take the index to 5430/5500/5525.
The major intraday support is around 5300 and any break below major support targets 5250/5200.

It is good to buy at dips around 5340 around 5300 for the TP of 5300/5250/5200

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FxWirePro:ASX200 faces strong support at 5300, good to buy at dips

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