Thursday, October 15, 2026

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FxWirePro:S&P500 trades lower , good to sell on rallies

Major support – 2108 (Sep 12th low) Major resistance – 2146 (55- day EMA) S&P500 breaks major support at 2108 and declined till 2097 yesterday. It is currently trading around 2101. Short term trend is bearish as long as …

By FxWirePro Team
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FxWirePro:S&P500 trades lower , good to sell on rallies
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  • Major support – 2108 (Sep 12th low)
     
  • Major resistance – 2146 (55- day EMA)
     
  • S&P500 breaks major support at 2108 and declined till 2097 yesterday. It is currently trading around 2101.
     
  • Short term trend is bearish as long as resistance 2160 (trend line joining 2179.90 and 2175) 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 2128 (7- day EMA) and any break above will take the pair to next level till 2136 (10- day MA)/2146 (55- day EMA)/2160.​

    It is good to sell on rallies around 2120-2125 with SL around 2150 for the TP of 2067

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By FxWirePro Team