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DJ30: Bulls surge up

2022-10-06
1144
Fundamental analysis:

The Dow Jones Index closed 42.45 points lower, or 0.14%, at 30273.87 on October 5 (Wednesday); The number of ADP employees in the United States in September was 208000, expected to be 200000, with a previous value of 132000. The ADP employment data was slightly better than expected, and the probability of the Federal Reserve raising interest rates by 75 basis points in November rose slightly after the data was released.




Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum remains volatile and rising, the short-term bullish sentiment continues, the market bulls continue to move upward, the MACD indicator stays in the bulls' area, and the RSI indicator hovers above the 50 equilibrium line;


Empty turning point: 30275


Pressing: 30535, 30714


Support: 30070, 29825


Trading strategy: bullish above 30275, target 30535, 30714


Alternative strategy: sell below 30275, target 30070, 29825

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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