FxWirePro:ASX200 struggles to break above 5500, good to buy at dips

• Major support   - 5450 (21 4H MA)
   
• The index has taken support near 21 4H MA and slightly jumped from that level.It is currently trading around 5482.
   
• Overall trend is bullish as long as the support 5390 (4H Kijun-Sen) holds. 
   
• Any break above major resistance 5500 will take the index to next level till 5525/5550.
   
• On the lower side, support is around 5440 (21 4HMA) and any violation below that level will drag the index till 5390/5350/5320 in the short term.

It is good to buy on dips around 5425 with SL around 5365 for the TP of 5500/5550.