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Add as a preferred source on Google FxWirePro:ASX200 struggles to break above 5500, good to buy at dips Major support - 5450 (21 4H MA) The index has taken support near 21 4H MA and slightly jumped from that level.It is currently trading around 5482. Overall trend is bullish as long as the support 5390 (4H Kijun-Sen) holds…
By FxWire Pro Jul 20, 2016, 2:31 AM UTC
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Major support - 5450 (21 4H MA)
The index has taken support near 21 4H MA and slightly jumped from that level.It is currently trading around 5482.
Overall trend is bullish as long as the support 5390 (4H Kijun-Sen) holds.
Any break above major resistance 5500 will take the index to next level till 5525/5550.
On the lower side, support is around 5440 (21 4HMA) and any violation below that level will drag the index till 5390/5350/5320 in the short term.
It is good to buy on dips around 5425 with SL around 5365 for the TP of 5500/5550.
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