Friday, October 16, 2026

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FxWirePro: S&P500 takes support near 200- day MA, good to sell on rallies

Major support – 2080 (200-day MA). Major resistance – 2120 (10- day MA). S&P500 takes support near 200 –day MA and jumped till 2115.80 at the time of writing. It is currently trading around 2113. Short term trend is slig…

By FxWirePro Team
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FxWirePro: S&P500 takes support near 200- day MA, good to sell on rallies
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  • Major support – 2080 (200-day MA).
           
  • Major resistance – 2120 (10- day MA).
     
  • S&P500 takes support near 200 –day MA and jumped till 2115.80 at the time of writing. It is currently trading around 2113.
     
  • Short term trend is slightly bullish as long support 2080 (200- day MA) holds.
     
  • On the lower side major support is around 2085 (200- day MA) and any break below targets 2067 (61.8% retracement of 2193.90 and 1989)/2049.
     
  • The minor resistance is around 2120 (10- day MA) and any break above will take the pair to next level till 2140 (55- day EMA)/2160.​

    It is good to buy on dips around 2100 with SL around 2080 for the TP of 2140/2155

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