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SP500: low shock

2023-02-21
891
Fundamental analysis:

The S&P 500 index closed down 11.32 points, or 0.28%, at 4079.09 points on the previous trading day. After the release of strong US economic data, the market sentiment towards the US dollar improved in February, and this situation will continue further.

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



Brief technical analysis:

Looking at the 4-hour chart: the low position is fluctuating within a narrow range, the market’s bearish sentiment is still there, and there is a trend of continuing to move downward in the short term. The MACD indicator is in the bearish area and remains in order, and the RSI indicator is hovering weakly below the 50 balance line;

Long and short turning point: 4081

Suppression: 4091, 4101
Support: 4065, 4056

Trading strategy: bearish below 4081, target 4065, 4056
Alternative strategy: call above 4081, target 4091, 4101

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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