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DJ30: Bears move down

2023-05-31
761
Fundamental analysis:

The Dow Jones Index closed down 50.49 points, or 0.15%, at 33,042.85 points on May 30 (Tuesday); the market is worried that the U.S. debt ceiling agreement may be blocked in Congress, and the Fed hawks are not afraid of the concept of "too much is too late" may be the next Pre-crisis foreshadowing.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate and move down, and the short-term decline may continue. The overall market is in a bearish downward trend. The MACD indicator is hovering weakly near the 0 axis, and the RSI index is weakly hovering near the 50 balance line;

Resistance level: 33160 33222

Support level: 32992 32932

Trading strategy: bearish below 33094, target 32992 32932
Alternative strategy: call above 33094, target 33160 33222

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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