ASX200 breaks major support at 5130, targets 5075/5020

FX:AUS200   S&P/ASX Index
58 0 3
Major support - 5130

ASX200             has broken major support 5130 and declined till 5117 at the time of writing . It is currently trading at 5137.

Short term trend is slightly weak as long as resistance 5180 holds. Any break below 5180 will take the index up till 5205/5230.

On the lower side any break below 5130 will drag the index till 5075/5020.

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

It is good to sell on rallies around 5145-50 with SL around 5180 for the TP of 5100/5075 .
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