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SP500: High climb

2023-02-02
950
Fundamental analysis:

The S&P 500 index closed up 44.00 points, or 1.08%, at 4120.60 points on February 1 (Wednesday); the Federal Reserve raised its benchmark interest rate by 25 basis points to a range of 4.50%-4.75%, in line with market expectations, for the second time in a row Slow down the pace of rate hikes.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level of bullish momentum is rising rapidly, the market is bullish, and the short-term bullish momentum continues to move upwards. The MACD indicator is in the bullish zone and is slowly rising, and the RSI indicator is in the bullish zone. Keep moving up;

Long and short turning point: 4133

Suppression: 4156, 4167
Support: 4119, 4104

Trading strategy: Bullish above 4133, target 4156, 4167
Alternative strategy: bearish below 4133, target 4119, 4104

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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