ASX200: Buy above breakout

FX:AUS200   S&P/ASX Index
65 0 3
Major resistance - 5020 ( trend line joining 5074 and 5036)

Minor support 4975

The index has broken psychological resistance 5000 and jumped till 5017 at the time of writing. It is currently trading around 5013.

On the higher side any break above 5020 will take the index to next level till 5075/5130 in short term.

Minor support is around 4975 and break below targets 4930/4900.

Short term weakness only below 4850.

It is good to buy above 5020 with SL around 4975 for the TP of 5075/5125
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