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S & P: high and narrow range shock
2022-07-21
1205
Fundamental analysis:
On July 20 (Wednesday), the S & P 500 index closed up 22.96 points, or 0.58%, at 3959.65; An indicator of mortgage applications for housing purchase or refinancing in the United States fell to the lowest level since the turn of the century, the latest sign of sluggish housing demand.
S & P SP500 - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum fluctuated strongly and rose, and the high-level short-term consolidation was blocked. The MACD index was at a high level and maintained the consolidation and translation, and the RSI index was at a low level and remained weak in the long area;
Long short turning point: 3945
Pressing position: 3968, 3985
Support position: 3927, 3910
Trading strategy: bullish above 3945, targets 3968, 3985
Alternative strategy: 3945 down, goals 3927, 3910
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