ASX200 faces strong resistance at 5430, break above targets 5500

• Major support   - 5320 (4 Hour Kijun-Sen)
   
• The index has recovered sharply after making a low of 5371 yesterday .It is currently trading around 5412.
   
• Overall trend is bullish as long as the support 5320 (4H Kijun-Sen) holds. 
   
• Any break above major resistance 5431 will take the index to next level till 5475/5500. 
   
• On the lower side, support is around 5370 and any violation below that level will drag the index till 5350/5320/5271 in the short term.

It is good to buy on dips around 5370 with SL around 5320 for the TP of 5430/5500.