ASX200 breaks trend line support, decline till 5515 likely
Major support – 5665 (trend line joining 5270 and 5380)
•ASX200 breaks trend line support at 5665 and declined till 5643 at the time of writing. It is currently trading around 5686.
•The index is trading slightly below trend line support and this confirms minor weakness , a decline till 5600/5515 is possible.
•On the higher side, major resistance is at 5715 (60- H EMA) and any break below will take the index till 5753 (10- day MA)/5800/5832/5940/6000.
It is good to sell on rallies around 5650-5655 with SL around 5700 for the TP of 55515.
•ASX200 breaks trend line support at 5665 and declined till 5643 at the time of writing. It is currently trading around 5686.
•The index is trading slightly below trend line support and this confirms minor weakness , a decline till 5600/5515 is possible.
•On the higher side, major resistance is at 5715 (60- H EMA) and any break below will take the index till 5753 (10- day MA)/5800/5832/5940/6000.
It is good to sell on rallies around 5650-5655 with SL around 5700 for the TP of 55515.
