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DJ30: Bears fall
2023-04-26
784
Fundamental analysis:
The Dow Jones Index closed down 343.68 points, or 1.01%, at 33,531.72 points on April 25 (Tuesday). Annual house price growth in the United States slowed down in February as rising borrowing costs put pressure on homebuyers. National home prices rose 2 percent in February from a year earlier, down from 3.7 percent in January. Markets across the U.S. have cooled after a sudden and rapid spike in borrowing costs put off many would-be buyers.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen strongly, and the short-term decline may continue. The market as a whole is in the process of continuous downward movement of short positions. The MACD indicator is hovering below the 0 axis, and the RSI indicator is below the 50 balance line.
Resistance level: 33796 33852
Support level: 33667 33618
Trading strategy: bearish below 33741, target 33667 33618
Alternative strategy: call above 33741, target 33796 33852
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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