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FxWirePro:ASX200 faces strong support at 5300, good to buy at dips

  • Major resistance - 5380
     
  • Major Support - 5307 (10 day EMA)
     
  • ASX200 pares early losses  made today and slightly jumped till 5372 at the time of writing. It is currently trading at 5368.
     
  • Short term trend is slightly bullish as long as support 5300 holds.
     
  • On the higher side any break above 5380 will take the index to 5430/5500/5525.
     
  • The major intraday support is around 5300 and any break below major support targets 5250/5200.

 It is good to buy at dips around 5340 around  5300 for the TP of 5300/5250/5200 

  • Market Data
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