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- Major resistance - 5100
- ASX200 has broken minor support 5020 and declined till 4982 at the time of writing. It is currently trading at 4995.
- Short term trend is slightly weak as long as resistance 5100 holds. Any break above 5100 will take the index up till 5130/5160.The minor resistance is around 5035/5080
- On the lower side any break below 4970 will drag the index till 4920/4850.
- Short term trend reversal will happen only if it closes above 5200.Break above targets 5275/5300.
It is good to sell on rallies around 5035-40 with SL around 5080 for the TP of 4975/4920 .
