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Long

ASX200: Buy above 5308 (200- HMA)

FX:AUS200   S&P/ASX index of Australian listed shares
41 0 6
Major resistance -5308 (200- HMA).

Major support - 5150.

The index has broken minor resistance at 5240 (3- day EMA) and jumped till 5304 at the time of writing. It is currently trading around 5302.

On the higher side,major resistance is around 5308 (200-HMA) and any break above 5308 will take the pair till 5350/5449 (61.8% retracement of 5625 and 6152). The index should break above 5625 for further jump till 5700.

The major support is around 5150 and any break below targets 5100/5041 in the short term.

It is good to buy above 5308 with SL around 5250 for the TP of 5350/5445
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