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Tuesday, May 17, 2022

These are the key levels to watch

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the United States Federal Reserve You will be able to send a request for interest tips before the start of the outbreak of the COVID-19 pandemic in your reunion that concludes on Wednesday, with traders attentive to signs of the pace of upcoming rate hikes.

Markets anticipate a rise in 25 basis points at this week’s meeting, according to CME’s Fedwatch tool, while bets have risen to indicate a 70% chance of a higher than 50 basis point hike at its next May meeting, on concerns about elevated inflation. .

The financial entities are attentive to what the institution says, since the ECB could follow the steps. In the Spanish stock market, the behavior of CaixaBank stands out today.

At a technological level, CaixaBank is rebounding from the support zone, according to analyst Néstor Borràs. He has responded to the 200 session means and is describing a potential V-turn. It would be overcome if it manages to break the resistance of 3,056 euros on a daily close, which we see on the chart:


It would be an additional positive signal that in a daily closing at the end of the downward gap of 3,089 euros.

On the downside, if it loses the support of 2,449 euros “it would be very negative because we would already resume the downward trend of the annual highs.” In any case, the value is still respecting the key support, at 2,217 euros.

Check CaixaBank’s technical indicators here.

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