FxWirePro: ASX200 faces strong resistance at 5300, good to buy at dips

• Major support - 5210 (90 4H EMA) 
   
• Major resistance - 5295 (200 4H  MA)
   
• The index has slightly declined after making a high of 5288 .It is currently trading around 5275.
   
• The intra day trend is slightly bullish as long as the support 5210 holds. 
   
• The index's major resistance is around 5290 and any break above targets 5325/5350. 
   
• On the lower side, support is around 5210 and any violation below that level will drag the index till 5150/5100/5075 in the short term.
   
• Overall bearish invalidation only above 5430.

It is good to buy at dips around 5235 with SL around 5200 for the TP of 5295/5325.