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DJ30: Bulls up
2023-03-05
875
Fundamental analysis:
The Dow Jones index closed up 386.78 points, or 1.17%, at 33,390.35 points on March 3 (Friday); business activity in the U.S. service industry resumed growth in February for the first time in eight months, offsetting the decline in manufacturing output. The decline will help stabilize the economy and hopefully avoid a recession in the first quarter.
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 upwards, the short-term bullish sentiment remains, the market bulls continue to pull up, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is in the bullish zone and continues to rise;
Resistance level: 33526 33638
Support level: 33250 33153
Trading strategy: Bullish above 33355, target 33526 33638
Alternative strategy: bearish below 33355, target 33250 33153
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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