Major support - 5270 (Nov 17th low).
•Major resistance - 5505 (Oct 11th 100- day MA).
•The index has made a high of 5502 and slightly declined from that level. It is currently trading around 5479.
•ASX200 faces strong resistance at 5505 and any break above confirms minor bullishness.
•On the higher side, resistance is at 5505 and any break above targets 5548/5625.
•The major support is around 5390 (7- day EMA) and break below targets 5315 (21- day MA)/5270/5200 in the short term.
It is good to buy on dips around 5400 with SL at 5346 for the TP of 5505/5600.
