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SP500: high level rapid lifting

2022-08-11
1233
Fundamental analysis:

The S & P 500 index closed up 86.53 points, or 2.10%, at 4209.00 on Wednesday, August 10; Federal Reserve Chairman Powell: the pace of price rise is slowing down, but it has not shown a downward trend enough to make the Federal Reserve give up tightening monetary policy.


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



Technical analysis:


According to the 4-hour chart, after the short-term wide range oscillation and translation, the Bulls' momentum is strong and the market is bullish. The MACD index is rising on the upper side of the 0 axis, and the RSI index is hovering in the 50 balanced online side Bulls' region;


Long and short turning point: 4198


Pressing position: 4234, 4254


Support position: 4178, 4156


Trading strategy: bullish above 4198, targets 4234 and 4254


Alternative strategy: bearish below 4198, targets 4178 and 4156

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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