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US inflation record high consumer confidence drops to a new low

2022-06-13
823
Fundamental analysis:

The S & P 500 index closed down 116.95 points, or 2.91%, at 3900.86 points on Friday, June 10; Data released by the U.S. Department of labor on Friday showed that CPI rose 8.6% year-on-year in May, as the U.S. inflation unexpectedly hit a 40 year high and consumer confidence fell to a record low.


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



Technical comments: the short power continued the rapid decline near the brin zone index, and the low level reached the node near 3897, and the short-term short power continued to decline. The brin zone index continued to open its mouth, the MACD index continued to fall in the short area below the 0 axis, and the RSI index continued to fall in the short area;


Multi empty turning point: 3913


Pressing position: 3947, 3983


Support position: 3870, 3835


Trading strategy: 3913 down, 3870, 3835


Alternative strategy: bullish above 3913, targets 3947 and 3983


The above analysis is a personal point of view and is for reference only.

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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