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Long

ASX200 forms Bullish Cypher Pattern, good to buy at dips

FX:AUS200   S&P/ASX Index
63 0 6
Harmonic Pattern - Bullish Cypher Pattern

Potential Reversal Zone (PRZ) - 4850

The index has retreated till 4883 after making a high of 5035. It is currently trading around 4894.

On the lower side major support is around 4850 and any break below will drag the index down till 4815/4785.

Major resistance is around 4930 and any break above targets 4980/5020/5035.

It is good to buy at dips around 4850 with SL around 4815 for the TP of 4930/4980
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