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FxWirePro:ASX200 retreats after making a high of 5430, good ot buy at dip

  • Major resistance - 5380
     
  • Major Support - 5200
     
  • ASX200 pares early gains today morning after making breaking a major resistance of 5380 and jumped till 5430 at the time of writing.It is currently trading at 5386.
     
  • Short term trend is slightly bullish as long as support 5300 holds.
     
  • On the higher side any break above 5430 will take the index to 5500/5525.
     
  • The major intraday  support is around 5350 and any break below major support targets 5330/5300.

 It is good to buy at dips around 5340 SL around  5300 for the TP of 5430/5500.

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