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DJ30: bulls pull up

2023-01-24
907
Fundamental analysis:

The Dow Jones index closed up 254.07 points, or 0.76%, at 33,629.56 points on January 23 (Monday); the market generally expects the Fed to slow down the pace of raising interest rates and raise interest rates by 25 basis points again, and the Fed will raise interest rates by 25 basis points at the next meeting The probability of a basis point is 99.2%. However, Fed officials have yet to reach a consensus decision on the pace of rate hikes. While most Fed officials appear to support Chairman Powell's framework, others see the need for more hawkish policy.

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



Brief technical analysis:

Looking at the 4-hour chart: the momentum of the bulls continues to fluctuate and rise, the short-term bullish sentiment is shrouded, the market bulls continue to emerge, the MACD indicator is in the short area and moves up, and the RSI indicator is hovering weakly on the side of the 50 balance line;

Long and short turning point: 33678

Suppression: 33787, 33878
Support: 33573, 33469

Trading strategy: Bullish above 33678, target 33787, 33878
Alternative strategy: bearish below 33678, target 33573, 33469

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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