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ASX200 breaks major support 4835, decline till 4765 is possible

Tuesday, February 9, 2016 5:25 AM UTC

Major support - 4835 (trend line joining 4765 and 4822)
Major resistance -4915 (Kijun-Sen)
The index has broken major support around 4835 and declined till 4825. It is currently trading around 4828.
Any break below 4835 confirms minor weakness , a decline till 4765 is possible.
On the higher side resistance is around 4915 and break above targets 4950/5000. The index should close above 5000 for further up move. The minor resistance is around 4863/4878/4900.

It is good to sell on rallies around 4865-70 with SL around 4915 for the TP of 4765.

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ASX200 breaks major support 4835, decline till 4765 is possible

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