EUR/USD 1.14720
0.176%
Gold 4851.06
0.679%
Oil 96.040
-2.854%
USD/JPY 159.633
-0.139%
GBP/USD 1.32738
0.131%
GBP/JPY 211.899
0.053%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
JPMorgan Chase raised its price target for Micron Technology (MU.O) from $350 to $550.On March 19th, Shigeto Nagai, Head of Japan Economics at Oxford Economics, stated that given the possibility of stagflation in the Japanese economy, they now expect the Bank of Japan to postpone its next interest rate hike from June to July. Thereafter, they anticipate the central bank will continue to gradually raise rates in the first and third quarters of 2027. In the short term, rising energy costs will re-accelerate supply-side driven inflation. They now believe that core CPI will not return to 2% until the second quarter of 2027, rather than the fourth quarter of 2026. Despite a strong expected outcome from the spring wage negotiations, higher inflation will limit real income growth. Therefore, they have lowered their 2026 real GDP growth forecast by 0.4 percentage points to 0.3%. Despite concerns about inflationary pressures and a weaker yen, they believe the Bank of Japan may become more cautious about raising interest rates, prioritizing the impact on corporate profits and real household income.Market news: On Thursday, the Japanese House of Representatives approved the addition of two dovish monetary policy strategists nominated by Prime Minister Sanae Takaichi to the central banks board of directors: Toichiro Asada and Ayano Sato. This move could influence the central banks decisions on the timing and pace of further interest rate hikes.On March 19th, Mianbi Intelligent released EdgeClaw Box, a smart hardware product featuring a lobster design that is safe, controllable, and ready to use out of the box. In collaboration with Tsinghua University and the OpenBMB community, they also open-sourced an upgraded version of EdgeClaw that is safe, efficient, and supports edge-cloud collaboration, aiming to safeguard the OPC community and data-sensitive enterprises in the wave of intelligent agents.1. JD Cloud: Offers greater discounts on multiple products, with an average price reduction of over 16%. 2. Alibaba Cloud: AI computing power and storage products see price increases of up to 34%. 3. Baidu AI Cloud releases price adjustment announcements for AI computing power, storage, and other products. 4. Ma Huateng publicly discusses "shrimp farming" for the first time: it can be combined with WeChats decentralized philosophy. 5. MiniMax releases its new generation large-format model M2.7. 6. Xiaomi releases its large-format model MiMo-V2-Pro. 7. Germany plans to significantly increase AI computing power. 8. HSBC reportedly considers large-scale layoffs; AI restructuring may affect approximately 20,000 jobs. 9. Foxconn and SAP sign strategic cooperation agreement to accelerate AI-driven manufacturing and supply chain transformation. 10. AI security startup Xbows valuation surpasses $1 billion. 11. Samsung Electronics and AMD sign memorandum of understanding to explore foundry cooperation.

E-mini S&P 500 Index (ES) Futures Technical Analysis – Reversal Top Will Put 4004.75 on Radar

Florala Chen

Jun 01, 2022 15:21

微信截图_20220601150410.png


The response of traders at 4155.75 will most likely influence the direction of the June E-mini S&P 500 Index into Tuesday's closing.


Soaring oil prices and hawkish remarks from a Federal Reserve official worried investors, and June E-mini S&P 500 Index futures were trading substantially down immediately after the cash market opened on Tuesday.


At 13:49 GMT, the benchmark index was trading at 4109.25, down 46.50 points or 1.12%. The S&P 500 Trust ETF (SPY) is now trading at $410.89, down $4.37 or 1.05 percent from its previous close.


A decline in European equities overnight weighed on the market as Brent crude oil rose beyond $123 a barrel. The European Union's decision to partly ban Russian oil and China's decision to eliminate certain COVID-19 limitations were the drivers for the surge.


Sellers were also responding to a Fed official's hawkish remarks. Governor Christopher Waller of the Federal Reserve said on Monday that the US central bank should be prepared to hike rates by a half percentage point at each meeting from now on until inflation is well controlled.


Investors are now waiting for the result of President Joe Biden's meeting with Federal Reserve Chair Jerome Powell later in the day.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is up. The early price action, on the other hand, shows that momentum is about to move to the negative.


The return of the uptrend will be signaled by a trade through 4202.25. The major trend will shift to the downside if the price breaks through 3807.50.


The midpoint is between 4509.00 and 3807.50. The advance at 4202.25 earlier in the session was halted by its retracement zone around 4158.25 to 4241.00.


3807.50 to 4202.25 is the short-term range. The next negative objective is the retracement zone between 4004.75 to 3958.25.

Technical Forecast for the Daily Swing Chart

The response of traders at 4155.75 will most likely influence the direction of the June E-mini S&P 500 Index into Tuesday's closing.

Scenario that is bearish

The presence of sellers will be shown by a persistent move below 4155.75. Look for selling pressure to continue into 4004.75 to 3958.25 if this move is able to build enough bearish momentum.

Possibilities for Growth

The presence of buyers will be signaled by a prolonged advance over 4155.75. Overtaking 4158.25 will signal that the purchasing is becoming more powerful. This might provide the necessary upward impetus to surpass 4202.25 and challenge the Fibonacci level at 4241.00.

Suggestion