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SP500: high finishing

2023-05-30
767
Fundamental analysis:

Affected by the Memorial Day holiday in the United States overnight, U.S. stocks were closed on Monday (May 29), and the S&P 500 index closed up 53.20 points, or 1.28%, at 4204.48 points on May 26 (Friday); The monthly "small non-agricultural" ADP employment number was postponed until Thursday (June 1) at 20:15.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term bulls maintained their momentum after pulling up, and the bullish sentiment in the market began to weaken. The short-term bulls encountered resistance and oscillated at high levels.

Resistance: 4232 4238

Support level: 4213 4206

Trading strategy: bullish above 4220, target 4232 4238
Alternative strategy: bearish below 4220, target 4213 4206

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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