SP500: wide oscillation
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
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