FxWirepro:ASX200 faces strong resistance at 100- day MA, good to sell on

•Major support - 5040 (Jun 27th low).

•Major resistance - 5412 (100- day MA).

•The index jumped till 5363 and slightly declined slightly from that level. It is currently trading around 5341.

•ASX200 faces major resistance at 100- day MA and it should close above that level for minor jump till 5505.

•On the higher side, resistance is  at 5412 (100- day MA) and any break above 5412 targets 5548/5505. The index should break above 5505 for further jump till 5625.The minor resistance is around 5365.

•The major support is around 5280 (200- day MA) and any break below targets 5200/5150 in the short term.

It is good to sell on rallies around 5355-5360 with  SL at 5410 for the TP of 5151/5050.