FxWirePro: ASX200 faces strong support at 200 day MA,good to buy at dips

• Major resistance - 5300 
   
• Major Support - 5140 (200 day MA)
   
• ASX200 has recovered after making a low of 5179 at the time of writing.  It is currently trading at 5216.
   
• Short term trend is slightly bullish as long as support 5140 holds.
   
• On the higher side any break above 5300 will take the index to 5330/5375.The minor resistance is at 5260.
   
• The major intraday  support is around 5200 and any break below major support targets 5165/5140.The minor support is at 5225.

 It is good to buy at dips around  5190 SL around  5140 for the TP of 5260/5300.