ASX200 trades below 90-day EMA, targets 5300

• Major resistance -5445 (55-day EMA).
   
• Major support - 5385 (90- day EMA).
   
• The index has broken major support 5385 yesterday and declined till 5358 at the time of writing.It is currently trading around 5371.
   
• On the higher side,minor resistance is around 5445 (55- day EMA) and any break above 5445 will take the pair to next level till 5500/5520 (9- day EMA). The index should break above 5625 for further jump till 5700.
   
• The major support is around 5333 (50% retracement of 5041 and 5625) and any break below targets 5300 (cloud bottom)/5264 in the short term.    

 It is good to sell on rallies around 5400 with SL around 5450 for the TP of 5360/5300