- Major support - 5270 (200- HMA).
- The index has broken major resistance at 5350 and jumped till 5394 at the time of writing. It is currently trading around 5389.
- ASX200 is trading slightly well above Tenken-Sen (5360) and Kijun-Sen (5347) in the hourly chart.
- On the higher side,any break above 5350 confirms minor trend reversal, a jump till till 5449 (61.8% retracement of 5625 and 6152). The index should break above 5625 for further jump till 5700.
- The major support is around 5305 and any break below targets 5240/5200/5150 in the short term.
It is good to buy on dips around 5370-75 with SL around 5345 for the TP of 5450
