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DJ30: High climbing

2022-11-11
1294
Fundamental analysis:

The Dow Jones Index closed up 1201.43 points, or 3.70%, at 33715.37 on November 10 (Thursday); The quarterly adjusted annual CPI rate of the United States recorded 7.7% at the end of October, falling back to below 8% again seven months later, the smallest increase since January 2022. US inflation is already at a low level before the conflict between Russia and Ukraine, but obviously for the Federal Reserve, inflation is still overheated.



Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum remains at a high level, and the short-term bullish sentiment remains unchanged. The market bulls continue to move upward. The MACD index is in the bulls' region, and the RSI index is in the bulls' region;


Empty turning point: 33,632


Pressing: 33919, 34161


Support: 33422, 33200


Trading strategy: bullish above 33632, target 33919, 34161


Alternative strategy: 33632 lower bearish, target 33422, 33200

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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