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DJ30: Bears fall

2022-12-15
1031
Fundamental analysis:
The Dow Jones Index closed down 142.95 points, or 0.42%, at 33965.69 points on December 14 (Wednesday). The Fed raised interest rates by 50 basis points to 4.25-4.50% as scheduled. The 2023 dot plot rate forecasts are clustered above 5%, with only two points below that level, suggesting FOMC members are on the same page.

Dow Jones DJ30 - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum fell at a high level, the market's short-term sentiment emerged, the short-term decline may continue, the MACD indicator is in the bullish area, and the RSI indicator is hovering weakly on the side of the 50 balance line;
Long and short turning point: 34317
Compression: 34436, 34555
Support: 34185, 34050
Trading strategy: bearish below 34317, target 34185, 34050
Alternative strategy: call above 34317, target 34436, 34555

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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