- Major resistance - 5225
- ASX200 has slightly retreated after making a high of 5225. It is currently trading at 5175.
- Short term trend is slightly bullish as long as support 5130 holds. Any break below 5130 will drag the index down till 5075/5020.
- On the higher side major resistance is around 5225 and break above targets 5275/5300.
- Short term bullish invalidation only below 4975.
It is good to buy at dips around 5160-65 with SL around 5130 for the TP of 5225/5275.
