FxWirePro: ASX200 recovers after making a low of 5270, good to sell on rallies

• Major resistance - 5350
   
• Major Support - 5300 (200 day 4 H MA)
   
• ASX200 has recovered till 5332 at the time of writing after making a low of 5269 . It is currently trading at 5312.
   
• Short term trend is slightly bearish  as long as resistance 5350 holds.
   
• On the higher side any break above 5350 will take the index to 5385/5400/5430/5485.The minor resistance is around 5325. 
   
• The index major support is around 5240 (55 day EMA)  and break below 5240 targets 5200/5125.

It is good to sell on rallies around 5320 with SL around 5360 for the TP of 5250/5205.