ASX200 faces strong support at 5200, break below targets 5135

• Major resistance - 5260  (55 day EMA)
   
• Major Support - 5200
   
• ASX200 has is trading near major support 5200 and any break below confirms minor trend reversal. It is currently trading at 5207.
   
• Short term trend is slightly weak as long as resistance 5260 holds.
   
• On the higher side any break above 5260 will take the index to 5300/5347 (21 day MA).The minor resistance is around 5230. 
   
• The index major support is around 5200 and any break below targets 5135 (200 day MA).

.It is good to sell on rallies around 5250-55 with SL around 5300 for the TP of 5200/5135.