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SP500: bulls move up
2023-03-21
898
Fundamental analysis:
The S&P 500 index closed up 33.53 points, or 0.86%, at 3950.17 points on March 20 (Monday); the Federal Reserve, the United Kingdom, Canada, Japan, the European Central Bank and the Swiss National Bank announced coordinated actions to increase liquidity swap lines through the US dollar Liquidity supply.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term shocks of the bulls’ momentum rebounded rapidly, the market’s bullish sentiment emerged, and the market’s bulls continued to pull up. The MACD indicator hovered above the 0 axis, and the RSI indicator was on the 50 balance line.
Resistance: 4004 4018
Support level: 3962 3947
Trading strategy: Bullish above 3976, target 4004 4018
Alternative strategy: bearish below 3976, target 3962 3947
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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