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SP500: high down

2022-11-29
1107
Fundamental analysis:
The S&P 500 index closed down 60.82 points, or 1.51%, at 3,965.30 on Monday, November 28; as inflation remains well above the 2% target, Powell may also warn of next year’s rate cuts in any talk of interest rate cuts Interest rates will rise further.

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


Brief technical analysis:
Looking at the 4-hour chart: the high level is finishing down, the market's short-term sentiment is waiting for an opportunity to enter the market and move down, the short-term decline may continue, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is in the short zone.
Long-short turning point: 3982
Suppression: 4002, 4021
Support: 3951, 3934
Trading strategy: bearish below 3982, target 3951, 3934
Alternative strategy: call above 3982, target 4002, 4021

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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