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ASX200 faces strong resistance at 5225, good to buy at dips

  • Major resistance - 5225
     
  • ASX200 has slightly retreated after making a high of 5225. It is currently trading at 5175.
     
  • Short term trend is slightly bullish as long as support 5130 holds. Any break below 5130 will drag the index down till 5075/5020.
     
  • On the higher side major resistance is around 5225 and break above targets 5275/5300.
     
  • Short term bullish invalidation only below 4975.

It is good to buy at dips around 5160-65 with SL around 5130 for the TP of 5225/5275.

  • Market Data
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