Major support – 5712 (89- 4H EMA).
•ASX200 has broken major trend line support at 5740 and declined till 5711. It is currently trading around 5714.
•The index faces strong support at 89-4H EMA and any break below will drag the index down till 5636.
•Any violation below 5712 will drag the pair down till 5660/5636 (61.8% Retracement of 5516 and 5832).
•On the higher side, major resistance is at 5768 and any violation above will take the index till 5832/5940/6000.
It is good to buy on dips around 5740 with SL around 5680 for the TP of 5797/5900.
