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SP500: high and narrow finishing

2022-08-05
1187
Fundamental analysis:

The S & P 500 index closed down 3.74 points, or 0.09%, at 4151.43 points on Thursday, August 4; As the Federal Reserve continues to raise interest rates to curb decades of high inflation, this trend is likely to continue, and raising interest rates may reduce the demand for workers.


S & P SP500 - 4-hour K-line diagram display:



Technical analysis:


According to the 4-hour chart, the Bull Power maintained the narrow range consolidation and moved up, the short-term entangled high and weak hovered, the MACD index was in the high range consolidation of the bull region, and the RSI index was in the narrow range hovering of the bull region;


Long short turning point: 4139


Pressing position: 4178, 4205


Support position: 4114, 4087


Trading strategy: bullish above 4139, targets 4178, 4205


Alternative strategies: bearish below 4139, goals 4114, 4087

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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