Major intraday support - 5424.(100-day MA)
•Major resistance - 5505 (Oct 11th 100- day MA).
•The index has formed a temporary top around 5522 and started to decline from that level. It is currently trading around 5429.
•ASX200 faces strong support at 5425 (100- day MA) and any break below targets 5346 (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 sell on rallies around 5460-5470 with SL at 5505 for the TP of 5351/5300.
