ASX200 takes support near 200 -day MA, good to buy on dips

FX:AUS200   S&P/ASX Index
85 1 3
Major support - 5250 ( trend line joining 4888 and 5041).

Minor intra day resistance - 5305 (5- day MA)

The index has taken support near trend line and slightly recovered from that level.It is currently trading around 5286

ASX200             breaks below 200- day MA at 5263 and declined till 5260. But it should close below 200- day MA for further weakness .

On the higher side,resistance is  at 5305 (5- day MA) and any break above 5305 targets 5359 (daily Tenken-Sen)/5385/5420 (21- day MA. The index should break above 5505 for further jump till 5625.

The minor support is around 5250 and any break below targets 5200/5155 in the short term.

It is good to buy on dips around 5280 with SL around 5250 for the TP of 5365. 
Hi, ASX200 has already breached 5200 marks and hovering around 5190. Would it find resistance at 5150 or suspecting it would breach that also. Your thoughts, please.
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