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SP500: wide oscillation

2023-03-15
904
Fundamental analysis:

The S&P 500 index closed up 62.64 points, or 1.62%, at 3,918.40 points on March 14 (Tuesday); the U.S. inflation data for February was the last important economic release before the Fed’s policy meeting on March 22. Report. Fed policymakers have entered a period of silence, with inflation data helping the central bank determine the path of future policy.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term maintains a wide range of shocks, the market’s bullish momentum moves upward again, the MACD indicator is hovering above the 0 axis, and the RSI indicator is on the side of the 50 balance line for weak consolidation;

Resistance: 3934 3947

Support level: 3905 3891

Trading strategy: Bullish above 3917, target 3934 3947
Alternative strategy: bearish below 3917, target 3905 3891

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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