FxWirePro: S&P 500 trades slightly above 10 –day MA, good to buy on dips

• Major resistance- 2167 (10- W MA)
   
• Major support – 2060 (40- WMA)
   
• S&P500 has shown a fast recovery from the low made on this week at 2141. It is currently trading around 2170.50.
   
• The index has broken major resistance at 2167 (10-W MA) and any break above confirms minor trend reversal, a jump till 2179.90/2193 is possible.
   
• On the lower side, support is around 2135 (61.8% retracement of 2108 and 2179.90) and any break below targets 2108/2092 (50% retracement of 1989.80 and 2193.90).
   
• Overall weakness only below 2060 (40- W MA).

It is good to buy on dips around 2145-2150 with SL around 2125 for the TP of 2180/2193