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DJ30: Bears move down

Fundamental analysis:

The Dow Jones Index closed down 140.08 points, or 0.42%, at 33286.55 points on May 22 (Monday); data from the New York Federal Reserve showed that the federal funds rate market soared to the highest level in at least seven years, indicating that as banks have been in the past two years Federal Home Loan banks may be sitting on more excess cash as they prepay borrowings during months of regional bank turmoil.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum continues to move down, and the short-term decline has not stopped. The market is shrouded in bearish sentiment, and there is a trend of continued downward movement in the short term. Weakness on the offline side;

Resistance: 33479 33539

Support level: 33325 33267

Trading strategy: bearish below 33414, target 33325 33267
Alternative strategy: call above 33414, target 33479 33539

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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