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Long

ASX200 recovers after making a low of 5205, good to buy at dips

FX:AUS200   S&P/ASX index of Australian listed shares
48 0 6
Major resistance - 5300 

Major Support - 5140 (200 day MA)

ASX200             pares early losses and jumped till 5303 after making a low of 5205 at the time of writing  It is currently trading at 5287.

Short term trend is slightly bullish as long as support 5200 holds.

On the higher side any break above 5300 will take the index to 5330/5375.The minor resistance is at 5260.

The major intraday  support is around 5200 and any break below major support targets 5165/5140.The minor support is at 5250/5225.

 It is good to buy at dips around  5250 SL around  5200 for the TP of 5330/5362.
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