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DJ30: bearish shock downward
2022-10-07
1205
Fundamental analysis:
The Dow Jones index closed down 347.40 points, or 1.15%, at 29926.47 on October 6 (Thursday); The number of people applying for unemployment insurance in the United States last week exceeded expectations, although it is still at a historical low, which is the latest sign that labor demand may start to slow down.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the bearish power has kept moving back, and there are signs of continuing to move downward in the short term. The MACD indicator is in the bull area and remains weak and moves downward, while the RSI indicator is in the vicinity of the 50 equilibrium line;
Empty turning point: 30051
Pressing: 30217, 30355
Support: 29825, 29681
Trading strategy: 30051 downside bearish, target 29825, 29681
Alternative strategy: bullish above 30051, target 30217, 30355
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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