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DJ30: High level sorting

2022-10-28
1139
Fundamental analysis:

The Dow Jones Index closed up 198.72 points, or 0.62%, at 32037.83 on October 27 (Thursday); The initial annualized quarterly rate of the real GDP of the United States in the third quarter was 2.60%, which exceeded expectations and hit a new high since the fourth quarter of 2021. It had recorded negative growth for two consecutive quarters.



Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum has kept surging, and the high level has been consolidated in a short term. The market bulls are showing signs of continuing to hover at a high level. The MACD index is in the high level consolidation of the bulls' region, and the RSI index is in the 50 balanced online side of the bulls' region;


Empty turning point: 31887


Pressing: 32246, 32455


Support: 31671, 31467


Trading strategy: bullish above 31887, target 32246, 32455


Alternative strategy: bearish under 31887, target 31671, 31467

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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