Major intraday support - 5380
•Major resistance - 5505 (Oct 11th 100- day MA).
•The index has made a minor top around 5508 and declined from that level. It is currently trading around 5456.Short term trend is still weak as long as resistance 5520 holds
•ASX200 faces strong support at 5390 (50- day MA) and any break below targets 5322 (200- day MA).
•On the higher side, resistance is at 5520 and any break above targets 5548/5625/5700.
It is good to buy on dips around 5435-40 with SL at 5380 for the TP of 5520/5625.
