FxWirePro:ASX200 takes support at 100-day MA, good to buy on dips

Major intraday support - 5424.(100-day MA)

•Major resistance - 5505 (Oct 11th 100- day MA).

•The index broken major resistance 5510 and jumped till 5522 on Friday. It is currently trading around 5480.

•ASX200 has taken support at 100-day MA and any break below targets 5350/ 5338 (21- day MA).

•On the higher side, resistance is  at 5505 and any break above targets 5548/5625/5700.

•The major support is around 5425 (100- day MA) and break below targets 5350/5338 (21- day MA).

It is good to buy on dips around 5470 with  SL at 5425 for the TP of 5625/5700.