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SP500: wide oscillation

2023-05-16
888
Fundamental analysis:

The S&P 500 index closed up 13.42 points, or 0.33%, at 4137.50 points on May 15 (Monday); the unprecedented potential default of the United States will plunge the country into recession and bring chaos to the global financial market. beginning to worry investors and consumers.

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



Brief technical analysis:

Looking at the 4-hour chart: short-term wide-ranging shocks and shifts, although the market’s short-term momentum has weakened, it is still in a bearish trend, the MACD indicator is weakly hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Resistance: 4160 4169

Support level: 4139 4130

Trading strategy: bearish below 4152, target 4139 4130
Alternative strategies: call above 4152, target 4160 4169

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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