Major support - 5270 (Nov 17th low).
•Major resistance - 5413 (100- day MA).
•The index has broken major resistance at 5413 (100- day MA) and jumped till 5425 at the time of writing. It is currently trading around 5423.
•ASX200 breaks resistance at 100- day MA and a minor jump till 5505 is possible.
•On the higher side, resistance is at 5415 (100- day MA) and any break above 5415 targets 5548/5505. The index should break above 5505 for further jump till 5625.The minor resistance is around 5365.
•The major support is around 5346 (5- day MA) and break below targets 5295 (200- day MA)/5200 in the short term.
It is good to buy on dips around 5400 with SL at 5346 for the TP of 5505/5600.
