•Major resistance - 5625 (Oct 11th 100- day MA).
•ASX200 breaks major resistance at 5625 and jumped till 5637 at the time of writing. It is currently trading around 5628 0.20% higher
•Australian index should close below 10- day MA for further weakness.
•ASX200 faces major support at 5550 (10- day MA) and any break below targets 5500 /5460 (61.8% retracement of 5380 and 5598)/5427 (100-day MA).
•On the higher side, resistance is at 5625 and any break above targets 5700/5750.
It is good to buy on dips around 5575-80 with SL at 5535 for the TP of 5625/5700.
