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FxWirePro: ASX200 declines after making a high of 5378,good to sell on rallies

  • Major resistance - 5380 
     
  • Major Support - 5140 (200 day MA)
     
  • ASX200 pares early gains yesterday  and declined till 5278 at the time of writing. It is currently trading at 5278.
     
  • Short term trend is slightly bearish as long as resistance 5380 holds.
     
  • On the higher side any break above 5380 will take the index to 54200/5450.The minor resistance is at 5330.
     
  • The major intraday  support is around 5250 and any break below major support targets 5200/ 5165/5140.

 It is good to sell on rallies around  5330 SL around  5380 for the TP of 5205/5165.

  • Market Data
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