Jason Parker    
  Asian Indices
The ASX 200 is known as the institutionally investable benchmark in Australia. The index covers approximately 80% of Australian equity market capitalization. Index constituents are drawn from eligible companies listed on the Australian Securities Exchange.

In the Daily chart, you can see that the index has breached the resistance without checking the support at the same mark.
That resistance/support level is located at the 5151 point mark.  Therefore, we are expecting the Index to test the 5151 point mark.

Another parameter which supports our theory of the downtrend can be found in the Weekly chart.  As you can see in the weekly chart below, the Moving Average 100 is providing the upside resistance for the ASX 200 Index. Don't forget that, moving averages can also act as dynamic support and resistance levels, not always as a static resistance level.

Trading Suggestion
We suggest opening a short position with a stop above the resistance level at 5422 (MA 100) and a target price on the way down at 5271.

Position: Short
Stop Loss: 5422
Take Profit 1: 5271
Take Profit 2: 5186