CM Trade

Download APP to receive bonus


SP500: high retracement

Fundamental analysis:

The S&P 500 index closed down 44.28 points, or 1.12%, at 3916.00 points on March 17 (Friday); the OIS price corresponding to the Fed meeting shows that the Fed will raise interest rates by about 17 basis points at the March policy meeting, a low 21 basis points at Thursday's close. The March contract fell as low as 4.738% after 2 p.m. in New York.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum reversed and moved down, the market’s short-term sentiment began to emerge, the short-term decline may continue, the MACD indicator is in the long-term area and slowly moves down, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance: 3969 3985

Support level: 3929 3914

Trading strategy: bearish below 3955, target 3929 3914
Alternative strategy: call above 3955, target 3969 3985

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar