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
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