ASX200 forms Bullish Cypher Pattern, good to buy on dips

FX:AUS200   S&P/ASX index of Australian listed shares
48 0 3
Pattern Formed- Bullish Cypher pattern.

Potential Reversal Zone (PRZ) - 5417

The index has formed Bullish cypher pattern in hourly chart and it is good to buy on dips. ASX200             has taken support near 200 - HMA and slightly recovered from that level.

It is currently trading around 5460.Short term trend is slightly bullish as long as support 5436 holds.

On the higher side , the index is facing resistance around 5472 (21- HMA) and any break above targets 5502/5530 in the short term.It should break above 5625 for further bullishness.

Nikkei's minor support is around 5435 (200- HMA) and any break below will drag the index down till 5375/5350.

It is good to buy on dips around 5435 with SL around 5372 for the TP of 5502/5530.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out