ASX200 breaks major support 5075, targets 5020/4980

FX:AUS200   S&P/ASX Index
57 0 1
Major support - 5075

ASX200             has broken major support 575 and declined till 5066 at the time of writing . It is currently trading at 5085.

Short term trend is slightly weak as long as resistance 5160 holds. Any break above 5160 will take the index up till 5205/5230.

On the lower side any break below 5075 will drag the index till 5020/4980.

Short term trend reversal only above 5230.Break above targets 5275/5300.

It is good to sell on rallies around 5120-25 with SL around 5160 for the TP of 5020 .
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