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DJ30: High level wandering

2022-11-02
1152
Fundamental analysis:

The Dow Jones Index closed down 82.12 points, or 0.25%, at 32650.83 on November 1 (Tuesday); The Federal Reserve will end its two-day policy meeting on Wednesday (November 2). It is expected to raise interest rates by 75 basis points for the fourth time in a row, but it may discuss when to turn to a small rate increase.


Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' power has kept surging, the high level has been sorted out in a narrow range for a short time, and the bears' power has shown signs of waiting for an opportunity to enter the market. MACD is in the downward trend of the bulls' regional consolidation, and the RSI index is in the 50 balanced online weak position;


Empty turning point: 32,852


Pressing: 33184, 33417


Support: 32300, 32018


Trading strategy: 32852 lower bearish, target 32300, 32018


Alternative strategy: bullish above 32,852, target 33,184, 33,417

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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