2016.05.0123:12:00UTC+00Fxwirepro: Asx200 Faces Strong Support at 200 Day Ma,good to Buy at Dips

• Major resistance - 5300�
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• Major Support - 5140 (200 day MA)
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• ASX200 has recovered after making a low of 5179 at the time of writing. �It is currently trading at 5216.
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• Short term trend is slightly bullish as long as support 5140 holds.
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• On the higher side any break above 5300 will take the index to 5330/5375.The minor resistance is at 5260.
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• The major intraday �support is around 5200 and any break below major support targets 5165/5140.The minor support is at 5225.

�It is good to buy at dips around �5190 SL around �5140 for the TP of 5260/5300.