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DJ30: High level vibration rising

2022-10-19
1077
Fundamental analysis:

The Dow Jones Index closed up 338.57 points, or 1.12%, at 30524.39 on October 18 (Tuesday); The fund managers surveyed by Bank of America showed signs of "total surrender" to the U.S. stock market and global economic growth, paving the way for the stock market rebound in 2023.





Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum remains volatile and rising, and the market is still bullish. The MACD indicator is at the high level in the bulls' region, and the RSI indicator is at the low level in the bulls' region;


Empty turning point: 30651


Pressing: 30829, 30970


Support: 30522, 30393


Trading strategy: bullish above 30651, target 30829, 30970


Alternative strategy: sell below 30651, target 30522, 30393

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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