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DJ30: A sharp drop at a high position
2023-01-19
982
Fundamental analysis:
The Dow Jones index closed down 614.22 points, or 1.81%, at 33296.63 points on January 18 (Wednesday); the U.S. PPI annual rate recorded 6.20% in December, the smallest increase since March 2021, lower than the expected 6.80% and the previous The value was 7.40%; the annual rate of core PPI in December was 5.50%, which was lower than the expected 5.70% and the previous value of 6.20%.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has fallen sharply, the short-term decline may continue, the market as a whole is in a weak position, the MACD indicator is in the bearish area and fluctuates downward, and the RSI indicator is in the bearish area and continues to decline;
Long and short turning point: 33431
Compression: 33530, 33635
Support: 33277, 33181
Trading strategy: bearish below 33431, target 33277, 33181
Alternative strategy: Bullish above 33431, target 33530, 33635
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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