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DJ30: High level narrow amplitude vibration
2022-10-20
1097
Fundamental analysis:
The Dow Jones Index closed down 98.54 points, or 0.32%, at 30425.26 on October 19 (Wednesday); It is expected that the strong labor market and consumer demand will cushion the impact of the potential economic recession in the United States in 2023. Consumer spending will push the US real GDP to expand moderately in the second half of 2022, with a quarterly growth of about 0.3%.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the high short-term narrow shock retreated, and the short market sentiment was waiting for the opportunity to enter the market and go down. The short-term decline may continue. The MACD index remained in the long area and the RSI index remained in the 50 balanced online side;
Empty turning point: 30616
Pressing: 30769, 30923
Support: 30393, 30253
Trading strategy: 30616 downside bearish, target 30393, 30253
Alternative strategy: bullish on 30616, target 30769, 30923
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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