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SP500: low long strong up

2022-08-26
1198
Fundamental analysis:

The S & P 500 index closed up 60.33 points, or 1.46%, at 4201.10 on Thursday, August 25; US Federal Reserve Chairman Powell will deliver a speech on Friday. Investors will analyze it to find out how aggressive the US Federal Reserve may be in raising interest rates when it struggles with inflation, which has been at a high level for decades.


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



Technical analysis:


According to the 4-hour chart, the low-level Bulls' power surged strongly, the short-term bullish sentiment continued to rise, the market bulls' power emerged, the MACD index remained in the short area and moved upward, and the RSI index was in the 50 balanced online line;


Long and short turning point: 4189


Pressing position: 4210, 4226


Support position: 4174, 4159


Trading strategy: bullish above 4189, targets 4210 and 4226


Alternative strategy: bearish below 4189, targets 4174 and 4159


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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