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DJ30: High level vibration moves up
2022-10-31
1157
Fundamental analysis:
The Dow Jones Index closed up 828.52 points, or 2.59%, at 32861.80 on October 28 (Friday); Core PCE inflation in the United States rebounded, and consumer spending showed flexibility. A core indicator of inflation in the United States accelerated growth in September, while consumer spending remained flexible, which shows that price pressure and strong demand strengthen the reason for the Federal Reserve to raise interest rates sharply again next week.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum continues the upward trend, and the short-term bullish sentiment remains unchanged. There is no sign of the market stopping. The MACD index is at the high level of the bulls' region, and the RSI index is at the high level of the bulls' region, and the RSI index moves up;
Empty turning point: 32782
Pressing: 33184, 33417
Support: 32529, 32284
Trading strategy: bullish above 32782, target 33184, 33417
Alternative strategy: 32782 bearish, target 32529, 32284
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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