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ASX200 breaks minor trend line resistance, targets 5050

Wednesday, January 13, 2016 2:29 AM UTC

Major resistance - 4960 (trend line joining 5346 and 5228)
ASX200 breaks minor resistance around 4960 and a jump till 5050 is possible. Any weakness can be seen only below 4860.
The index has made a high of 4994 at the time of writing and is currently trading 4984.
On the downside major support is around 4850 and break below targets 4800/4760.

It is good to buy at dips around 4920 with SL around 4850 for the TP of 5049.

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ASX200 breaks minor trend line resistance, targets 5050

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