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DJ30: High level vibration

2022-10-27
1209
Fundamental analysis:

The Dow Jones index closed 3.36 points higher, or 0.01%, at 31840.10 on October 26 (Wednesday); The poor US economic data intensified the speculation that the Federal Reserve would slow down the rate of interest rate increase, and the dollar index hit a new low of 109.932 since September 20.


Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum remains at a high level with a narrow range of shocks. In the short term, the bulls have signs of continuing to move upward. The MACD index is at a high level in the bulls' region, and the RSI index is at the 50 equilibrium line. The market remains hovering;


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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