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SP500: low bulls up

2022-09-08
477
Fundamental analysis:

The S & P 500 index closed up 71.81 points, or 1.84%, at 3980.00 on Wednesday, September 7; The US trade deficit contracted for the fourth consecutive month in July, reflecting the decline in the value of imports and a slight rebound in exports, which will help boost the US economy in the third quarter.


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



Technical analysis:


According to the 4-hour chart, the low Bulls' power surged, the Bulls' mood began to wait for the opportunity to enter the market, the MACD index was in the short area and kept sorting up, and the RSI index was in the 50 equilibrium line side;


Long short turning point: 3966


Pressing position: 4004, 4027


Support position: 3944, 3920


Trading strategy: bullish above 3966, targets 4004 and 4027


Alternative strategy: 3966 down bearish, target 3944, 3920

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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