ASX200 trades higher, jump till 5797 likely

Major support – 5640 (10- day MA).

•ASX200 broken the high of 5712 and jumped till 5755 yesterday.  It is currently trading around 5737.

•Short term trend is bullish as long as support 5585 (21- day EMA) holds.

•Any violation below 21- day EMA will drag the pair down till 5500/5496 (55- day EMA)/5435 (50- day MA).

•On the higher side, major resistance is at 5797 and any violation above will take the index till 5940/6000.

It is good to buy on dips around 5700 with SL around 5640 for the TP of 5797/5900.