Major resistance - 5210 (90 day MA)
Major Support - 5090
- ASX200 has recovered from the low 5093 made yesterday. The index has not closed below 200 day MA . It is currently trading at 5158.
- Short term trend is slightly bullish as long as support 5090 holds.
- Any violation below major support will drag the index down till 5075/5000 in the short term.
- On the higher side any break above 5210 will take the index to 5210 (90 day EMA)/5300/5337 (21 day MA).
It is good to buy at dips around 5130 with SL around 5090 for the TP of 5205/5250.
