ASX200 faces resistance at 200 day MA,break above atrgets 5225/5275

• Major resistance - 5158 (200 day MA)
   
• ASX200 has made a high of 5158 yesterday and slightly declined from that level. It is currently trading at 5148. 
   
• The index should close above 5158 (200 day MA) for further trend reversal .On the higher side any break above 5158 will take the index to 5200/5225/5275.
   
•  The major support is around 5065 and any break below major support 5065 will drag the index down till 5020/4960/4920/4900 in short term.The minor support is around 5100.​ 

It is good to buy above 5158 with SL around  5100 for the TP of 5225/5275