• Major resistance -5505
   
• The index has formed a triple top around 5505 and started to decline from the higher level.It is currently trading around 5483.
   
• ASX200 is trading well above Tenken-Sen (5437) and Kijun-Sen (5327) in the daily chart.But it should break above 5505 for further bullishness.
   
• On the higher side,the index is facing psychological resistance  at 5505 and any break above 5500 confirms minor bullishness, a jump till 5625 is possible. The index should break above 5625 for further jump till 5700.
   
• The minor support is around 5460 (10- day MA) and any break below targets 5394 (100- day MA)/5382 (21- day MA) in the short term. 
  
  It is good to buy above 5505 with SL around 5455 for the TP of 5625.