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SP500: Bulls up
2023-03-07
953
Fundamental analysis:
The S&P 500 Index closed up 3.19 points, or 0.08%, at 4048.83 points on March 6 (Monday); as the Federal Reserve is expected to continue raising interest rates in the summer, the manufacturing industry is unlikely to improve quickly. Manufacturing has also been weakened by the dollar's past appreciation against the currencies of major U.S. trading partners and weak global demand.
S&P SP500 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains volatile and rising, the short-term bullish sentiment remains, the market as a whole is at a high level, the MACD indicator is in the bullish zone and the RSI indicator is hovering above the 50 balance line;
Resistance: 4065 4081
Support level: 4030 4017
Trading strategy: Bullish above 4043, target 4065 4081
Alternative strategy: bearish below 4043, target 4030 4017
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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